Abhishek Manu Singhvi also accused the government for indulging in accounting jugglery by forcing the ONGC to acquire another public sector company, the HPCL
Congress blamed the Modi government on Monday for not passing benefits worth Rs 5.75 lakh crore to the common man, which it earned from low international prices of crude during three-and-half-years of its rule. Comparing crude price of $105 during Congress-led UPA government’s rule that declined to $47 and has not risen beyond $62 during the Modi government’s regime, Congress spokesperson Abhishek Manu Singhvi accused the government of frittering away the bonanza and not passing it to the consumers.
“We (Congress government) gave you such fantastic growth despite very high crude prices... Should the government of India have passed on some benefit to the poor ordinary people of India or not? It got oil at $47 and now at $68. I can understand if you charge the Indian public equivalent to $75 per barrel. When crude prices were at an all-time high in our time, petrol price was Rs 64 per litre. And now when crude is at $68, petrol is selling at Rs 80 and diesel at Rs 67.10 per litre in Mumbai,” Singhvi said.
He also accused the government for indulging in accounting jugglery by forcing the ONGC to acquire another public sector company, the HPCL, just to meet the disinvestment targets but in turn adding to the rising fiscal deficit.
“For the first time in India’s history, a virtually 100% government-controlled ONGC is going to take a Rs 30,000-crore loan to buy the government-owned shares in another government-controlled company, HPCL. It is being done to fool the public by showing that the government has not taken a loan,” claimed Singhvi.
He added that it was being to make the balance sheet of the government of India before Budget look alright.
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