The price reduction, which was surrounded in confusion initially, was marginal at best.
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After the 1 paisa cut, petrol in Delhi now costs Rs 78.42 per litre and diesel Rs 69.30. However, within a span of a few hours, those changes were deleted and instead a measly reduction of 1 paise a litre in both the auto fuels was announced. "Kerala did well by reducing the price". With this step, Kerala has become the first state in the country that has chose to take a hit on its revenue to mitigate the impact of higher global prices on customers. Last week, Mr. Gandhi tweaked the viral "fitness challenge" on social media to throw a "fuel challenge" to the Prime Minister, asking him to reduce prices or face nationwide protests. He said the government will slash state tax imposed on petrol and diesel to bring down the prices.
Rising fuel prices are highly likely to be discussed at the Reserve Bank's rate-setting panel, Monetary Policy Committee's (MPC) three-day meet beginning on June 4. The party supremo and West Bengal Chief Minister Mamata Banerjee had in a recent tweet expressed concern over the spiralling prices of petrol and diesel. "The state government has chose to forego Re 1 from its tax portion and as a result, the loss to the exchequer would be Rs 509 crore in a year".
Seeking a roll back of the fuel rates, Yechury said, "In states like West Bengal too, CM's approach to people's misery is exactly what Modi at the Centre's is: Callous disregard for their agony".