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Soon after Finance Minister Arun Jaitley tabled a notification in the Lok Sabha on Wednesday, hiking excise duty on petrol by 30 paise/litre and on diesel by ₹1.17/litre, Opposition parties such as the AIADMK, Left and Biju Janata Dal rose up in protest, demanding a roll-back.
Amid the ongoing din in the House, Jaitley said the hike was being done to garner an additional ₹2,500 crore, taking advantage of the slump in oil prices.
Later, raising the issue during Zero Hour, P Venugopal (AIADMK) the party’s House leader, said the move would have a cascading effect on already high prices of essential commodities and would also spike average commuting costs. A roll-back was necessary to provide relief to the common man, he said.
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