As reported by ANI, Puri said, “The PM personally monitored the situation and on two occasions – Nov 2021 and May 2022- he reduced the central excise on petrol and diesel by a significant part. The BJP-ruled states immediately reduced VAT. The only parts of our political system that talks about high fuel prices are the ones that have not reduced VAT.”

Meanwhile, Union Government is set to get a significant stake in the Hindustan Petroleum Corporation Ltd (HPCL) as it plans to provide financial support to fuel retailers, which incurred losses by selling petrol and diesel at discounted rates last year, the officials said, Livemint noted on July 30.

This comes as the government asked fuel retailers like IOC and BPCL to launch rights issues. It advised HPCL to make a preferential share allotment to the government.

Earlier on July 5, Union Minister for Road Transport and Highways, Nitin Gadkari said that if an average of 60% ethanol and 40% electricity is taken then petrol will be available at the rate of ₹15 per litre and the people will be benefitted.

While addressing the public here in Pratapgarh, Rajasthan, Gadkari said, “If an average of 60% ethanol and 40% electricity is taken then petrol will be available at the rate of ₹15 per litre and the people will be benefitted. Pollution and import will reduce. The import is of ₹16 Lakh Crores, this money will go to the homes of farmers instead.”

(With inputs from agencies)

Updated: 04 Aug 2023, 11:22 AM IST