UPA Will Not Have Adverse Political Implications Of Petro Price Hike, Says ASSOCHAM Survey
Unlike in the past, over 90% CEOs interviewed by the apex industry body- the ASSOCHAM on hike in petrol and diesel prices offered virtually no resistance but common man on street feels ignorant about exorbitant crude oil prices in international market is of view that increase in LPG cylinder price is on higher side. However, ASSOCHAM fully supports the government decision for raising prices of petroleum products in the interest of the country.
The survey named The Fall Out of Hike on Petroleum Product’s Prices in which 300 CEOs opinion was sought and views of 400 people from streets, were also sought, 270 CEO’s while said that government delayed price hike beyond a point. This resulted oil companies in downstream sectors to go into huge losses, they added.
Releasing the survey, the ASSOCHAM President Mr. Sajjan Jindal said that price rise was welcomed by thumping majority of CEO’s , almost 100% people from streets appeared ignorant about crude oil prices skyrocketing at 135$ per barrel. This lot of consumers held that LPG consumers should have been spared by a bit as Rs. 50 per cylinder hike came to them a big shock. It is because it was never done in the past and the masses had expected a hike of not more than Rs. 20 to Rs.25 per cylinder.
Mr. Jindal further said that 10% CEOs i.e. numbering 30 said that Rs. 5.00 petrol hike per litre in one go should have been avoided and prices of diesel per litre should have been raised by around Rs. 2 as the higher prices of diesel would have the cascading effects on entire Indian economy in view of its demand and even moved prices of essential commodities.
On the issue of political implications of petro price hike, over 200 CEOs held that results of forthcoming assembly elections in state of Rajasthan, Madhya Pradesh and Chattisgarh would not be influenced by the hike although political parties would take maximum advantage of running down the UPA government on the issue.
This will happen because the issue of petrol price hike has been so over emphasized in the media as Aam Aadmi had accepted that he or she would have to be the part of the system to bear the burnt of petro price rise.
About 40% of CEOs have disagreed with this view and said that political implications would arise out of this petro price rise and even curb the possible anti � incumbency factor to certain extent in the forthcoming assembly elections.
About a few CEOs held a view that the UPA government should build a consensus among large number of countries with which it has sound bilateral and multilateral ties to put a collective pressure on oil producing countries not to allow crude oil price beyond a limit in the absence of which the revision in petro prices would have to come all most every quarter, concludes the survey.
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