Was the Rs 5 cut in Central excise on petrol and Rs 10 cut on diesel too little?
Yes, the CPI (M) said so, today. The party politburo said the cuts were just a token reduction. These will provide no relief to the people, the party said.
The Central excise alone amounts to Rs 33 per litre of petrol price and Rs 32 per litre of diesel price, the party said. The cuts are therefore “only a marginal cut.”
The burden of exorbitant fuel price on the economy and the people will not go down, the CPI (M) said.
The Government decision “is only a knee-jerk reaction” to the adverse results in by-elections in some States for the BJP, the party said.
The only way that fuel prices can be maintained at reasonable levels is to effect a substantial cut in excise duties and do away with the special cess imposed on fuel, the CPI (M) said.