Fuel Price Surge Ignites Inflation Concerns in India

The Congress party has criticized the Modi government for hiking petrol and diesel prices, which is expected to cause further inflation and lower growth estimates. Prices were raised by Rs 3 per litre, marking the first increase in over four years, amid rising global crude prices and post-election economic adjustments.

The Congress party has strongly criticized the Modi administration following the recent hike in petrol and diesel prices.

Congress general secretary, Jairam Ramesh, expressed concerns over the government’s actions, emphasizing that long-standing international oil price reductions had not been passed to consumers, who were effectively exploited.

The price increase, occurring just after Indian elections, is deemed detrimental amidst rising global crude prices and an approaching 6% inflation rate, significantly affecting economic growth projections.