Chief Minister J Jayalalithaa on Sunday condemned the hike in excise duty of petroleum products announced by the Centre on Saturday. She demanded the immediate withdrawal of the latest revision “keeping in mind the long- term interest of overall economic growth.
The Union Government on Saturday had hiked the excise duties on petrol and diesel by `1 and `1.50 per litre respectively. Jayalalithaa termed the hike condemnable in the backdrop of fall in international prices of crude oil.
In a statement released to the media, the Chief Minister pointed out that the present hike was the third in this month alone even as the crude oil prices are falling in the global market. “Since November 2014, the excise duties on petrol and diesel has gone up by `11.77 and `13.57 respectively. This is being done to meet the budgetary deficit and is not a fair action,” said Jayalalithaa.
She also pointed out that reduction of excise duty hiked over the past 13 months would pave the way for fuel being available at cheaper rates for common people, which, she maintained, would also lead to economic development. “Therefore, I request that the excise duty hike must be withdrawn keeping in mind the long-term interest of overall economic growth and the Centre should shun the narrow perspective of decreasing revenue deficit by hiking excise duty,” said the Chief Minister.