New Delhi, Mar 3: Amidst the hue and cry over the hike in fuel prices Union Finance Pranab Mukherjee on Wednesday, Mar 3 said that he would meet allies on the issue of fuel price hike.
According to party sources, Mukherjee, while explaining the salient features of the budget to the Congress MPs briefed them on why increase in fuel prices was necessary.
It has been said that the Congress MPs has been told about the challenges ahead of the government in the current economic scenario.
Explaining the need for fuel price hike, Mukherjee said that since the budget did not introduced any fresh taxes, some steps to mop up revenues were required to take the GDP growth from 7.2 per cent to 8.5 percent, sources said.
Mukherjee added that the step was necessary in the wake of government plans to invest heavily in the social sector schemes.
A comparative chart showing the fuel price hike done under the UPA and the NDA was given out by Mukherjee to show that the price hike of petroleum products was comparatively lesser during the UPA government.
He told the MPs that the minimum support price for foodgrains was double under the UPA than it was during the NDA rule.
The party's positon on roll back issue is believed to be explained by the Congress president Sonia Gandhi during the of the Congress Parliamentary Party meeting on Thursday, Mar 4.