+

Karnataka Justifies Fuel Price Hike To Fund Guarantees And Development

Karnataka’s decision to fuel price hike has ignited controversy as State Minister for Commerce and Industries MB Patil defends the move, citing the need to fund guarantee schemes and development projects. The hike, which raises petrol prices by Rs 3 and diesel by Rs 3.5 per liter through higher sales tax, aims to generate significant […]

Karnataka Justifies Fuel Price Hike To Fund Guarantees And Development
Karnataka Justifies Fuel Price Hike To Fund Guarantees And Development

Karnataka’s decision to fuel price hike has ignited controversy as State Minister for Commerce and Industries MB Patil defends the move, citing the need to fund guarantee schemes and development projects. The hike, which raises petrol prices by Rs 3 and diesel by Rs 3.5 per liter through higher sales tax, aims to generate significant revenue amidst financial challenges.

Patil emphasized that despite the increase, fuel prices in Karnataka remain lower than in many other states. This assertion comes in response to criticism from the opposition, particularly BJP Karnataka President BY Vijayendra, who has called for the immediate withdrawal of the hike, threatening statewide protests.

The state’s Finance Department issued a notification increasing sales tax on petrol to 29.84% and on diesel to 18.44%, aiming to generate between Rs 2,500 to Rs 2,800 crore in the fiscal year. This decision follows the recent Lok Sabha election results, where the NDA secured a substantial victory in Karnataka. Opposition leader R Ashoka condemned the move as anti-people, alleging it penalizes voters for supporting the BJP.

The fuel price hike is viewed as a contentious measure amidst Karnataka’s political landscape, with critics arguing it burdens the populace while the government defends it as necessary for funding essential social welfare initiatives.

Tags:

Fuel Price HikeKarnatakaTDGThe Daily Guardian