Amid calls for relief from rising fuel prices, Union Minister Nitin Gadkari has said that any cut in petrol, diesel prices will take money away from the government’s social welfare schemes. He also added that the increase in oil prices is an unavoidable, economic situation, as India is now linked to the global economy.
Gadkari explained that to sell the fuel at cheap prices, the country will have to buy it at higher prices and subsidise it here and if it happens, all the money from social security schemes will vanish, as the government has limited amount of money. He noted that to subsidise the oil prices, the government may have to take money from the various scheme like irrigation schemes, free LPG for villages scheme, rural electrification project, Mudra scheme and other Central schemes and due to this step, these schemes will be badly hit.
The Union Minister also cleared that the decision of cut in taxes levied on petroleum products rests with the Finance Minister. He highlighted the government’s efforts on finding out a long-term and structured solution to this issue and on bringing substitute, cost-effective and pollution-free alternatives.