Lives of ordinary people affected: Jayalalithaa

 

J. Jayalalithaa has demanded the government to divest the oil marketing companies of the authority to fix the prices and gain total control. Contending that the increase in prices of petrol and diesel effected by oil marketing companies would result in the inflation going up and impacting the lives of ordinary people the most, Ms Jayalalithaa said the Centre should take the responsibility of fixing fuel prices. “Indian rupee is depreciating as foreign investors are losing confidence in the Centre’s taxation policies. 

 

Indian rupee is weakening because foreign investors have withdrawn a part of their investments made in the debt market and share market due to issues related to levying of minimum alternate tax (MAT),” she said while taking a dig at the economic policies of the Narendra Modi-led BJP government at the Centre.

 

Demanding a rollback of prices Ms Jayalalithaa said only Centre’s policies could prevent rupee depreciation and reiterated her stand that the existing price fixation formula for petroleum products be changed and that it would be appropriate to determine the prices of petrol and diesel based on international crude prices rather than  fuel rates in the global market.