Economy May 23, 2012
Chennai: Strongly condemning the steep hike in petrol price, Tamil Nadu Chief Minister Jayalalithaa today demanded its immediate roll back, warning that otherwise people's agony would spell the doom for the 'anti-people' UPA government soon.
"The hike of Rs 7.50 will affect the poor and the middle class. This is a gift given to the people by the UPA coalition government on its completion of three years in office," the AIADMK chief said in a statement.
She said the hike in petrol price could have been avoided by reducing the profit of the government as well as private run oil companies, reducing the tax on petrol and checking the falling rupee value.
Holding that the UPA government's 'wrong' economic policies were responsible for the price rise, steep rupee depreciation and economic slowdown, she said the latest petrol price hike had only added "fuel to the fire".
There was no doubt that the hike would dent the middle class people's purchasing power further and plummet their economic status, she said.
"I urge the Centre to rollback the petrol hike immediately. Otherwise, the tears of the people will become a weapon that would cause the fall of the anti-people Congress coalition soon," she said.
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