New Delhi, Jun 3 (UNI) The Bharatiya Janata Party (BJP) today opposed the proposal to raise the prices of petrol, diesel and LPG, asking the government to reduce duties and taxes with immediate effect.
Party spokesperson Rajiv Pratap Rudy accused Finance Minister P Chidambaram of backtracking on his decision in the United Front Government, where he had strategised to do away with the oil pool account and practice of issuing subsidy bonds.
He added the erstwhile National Democratic Alliance (NDA) government in 2002 had abolished the oil pool account and implemented a policy that any loss or subsidy would be reflected in the budget and beyond that any hike in prices would be moderated by appropriate duty cuts.
Ad-valorem duty structure on petrol and diesel had given a windfall of revenue gains to the government, which the FM refused to rationalise and pass on the benefits to consumers. The failure to reflect the budget subsidy amount crossing over Rs 400,000 lakh crore was a matter of concern because the government could have a free hand in dealing with such huge funds without any accountability, he said.
UNI MCN ATI RP AS1803