New Delhi: Emphasising that there was no shortage of LPG cylinders or fuel, Union Home Minister Amit Shah on Friday said India has managed to maintain supplies and prices despite a spike in global oil prices due to geopolitical tensions.
Urging people to trust the Narendra Modi government, Shah said that when retail prices across the globe are increasing, India is the only country where there is no increase in petrol and diesel prices.
In an interview on Times Now Summit, Shah said the prime minister has assured that there will be no lockdown. “We are ensuring uninterrupted supply while maintaining business as usual in the country,” he said.
Responding to criticism of the government’s handling of the crisis, he said the Centre has shouldered the financial burden to shield citizens by slashing excise duty on oil products.
“The situation is severe in several countries — a national emergency has been declared in the Philippines, fuel supply has been restricted to no more than 8 litres in Sri Lanka, work-from-home has been implemented in Thailand, flights have been reduced in Vietnam, and in Pakistan, the workweek has been reduced to only four days,” Shah said.
Petroleum product prices have increased by about 50 per cent in Vietnam, 17-20 per cent in Pakistan, 20-30 per cent in Europe, 7-13 per cent in the UK, 18 per cent in Australia, 17-34 per cent in the US, 19 per cent in Cambodia, and 40-48 per cent in Nigeria, he said.
India is the only country where supply has been maintained with nearly zero increase in petrol and diesel prices, Shah said.
“I believe there is no other country in the world that has taken the entire burden of the crisis upon itself,” the home minister said.
The steps taken during the last 11 years of the government have made the Indian economy so resilient that the government is able to cut its excise duty, he said.
Shah said India has not only increased its oil reserves, which were non-existent in 2014, but also diversified its oil procurement. India used to import fuel from 27 countries, but now it imports from 42, he said.
Shah also took a swipe at Leader of Opposition Rahul Gandhi, asking people not to believe him.
The government on Friday slashed excise duty on petrol to Rs 3 per litre and exempted diesel fully from the duty.
The reduction averts an increase in petrol and diesel prices that had become necessary in view of the rise in international oil prices by about 50 per cent in the last month.
