BJP slams UPA for fuel price hike, inflation

26 May 2011
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New Delhi: BJP on Monday alleged though the oil companies were making profits, the government had increased the prices of diesel, cooking gas and kerosene to keep in check its fiscal deficit which is "going awry due to high corruption and faulty economic policies".

"The government has reasoned that these prices were increased as international crude prices were increased, due to which Indian oil companies were losing money and the loss due to subsidy was becoming unbearable. But the tax collected last year by the petroleum sector was Rs 1,35,000 crore and the total subsidy is only Rs 40, 430 Crore," senior BJP leader Murli Manohar Joshi said.

He maintained that even after the tax share of states - which roughly amounts to Rs 55,000 crore - is factored in, the government would still be saving Rs 40,000 crore and hence the contention that it is suffering a loss is 'incorrect'.
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