Dumka, Jan 9(UNI) Expressing concern over Union government's move to provide subsidy on petroleum products despite the price hike in the internationl market, former union finance minister Yashwant Sinha today said the country would face huge economic loss this year.
''This loss could lead to about Rs 85,000 crore which will be a burden for upcoming generation,'' Mr Sinha told reporters here.
Mr Sinha said the government had failed to control price hike of foodgrains and essential commodities, but was providing subsidy to petroleum products despite its rise in international market.
Criticising the UPA government at the Centre, Mr Sinha said the erstwhile NDA government controlled the price hike problem but at present the Centre seemed 'helpless' on the issue.
Terming the Union government as anti-peasant, Mr Sinha said the wheat of farmers in the coutry was being purchased at the rate of about Rs 800 per quintal but the same was being imported at the rate of about Rs 1650.
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