Rein in rupee fall, don’t hike fuel price: Chief Minister

Jun 30, 2013

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Chennai: Chief minister J. Jayalalithaa lashed out at the Congress-led UPA government for hiking the prices of fuel instead of addressing the problem of depreciation of rupee and asked the Centre to arrest the slide in rupee value.

Charging that the hike in petrol price spurred by weak currency displayed the Congress’ “administrative incompetence and incapability” she said instead of taking steps to control the falling value of the Indian rupee, which was the reason for the fuel price hike, the Central government was merely revising the rate of petrol as per its “whims and fancies and this is the best example of its administrative incompetence and incapability.”

Frequent fuel price increase was further driving up the prices of essential commodities and hurting the public. Strongly condemning the Centre’s attitude she demanded the government to roll back the increase and take firm steps to control the weakening of the rupee against the US dollar.

Reacting to the Rs 1.82 a litre hike in petrol prices, she blamed the wrong economic policies of the Centre and the deregulation of petroleum prices for the present crisis and said only the Centre and RBI could take steps to stop the rupee depreciation.

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