The hike in the prices of petrol, diesel and LPG announced by the government today is unjustified. If the suggestions put forward by the Left Parties are taken into account, this price hike would be totally unnecessary.
The government has said that the price hike would lead to additional earnings of Rs. 21123 crore for the Public Sector Oil Marketing Companies (OMCs). This amount can be easily mobilised to provide relief to the OMCs by doing the following: