View Point: Petro price hike
The hike in the price of petro-products announced by the UPA Government has led to agitations and bandhs all around especially in non-Congress ruled states. If we go by the version of the Govt. this hike had become necessary to save the Oil Companies from bankruptcy. Even the Reserve Bank of India has termed the hike in petroleum products as a step in the right direction. But the country is already facing an inflationary pressure of the worst kind which has touched a figure of 8.24%. Prices of essential commodities have shot up thereby making the life of the common man miserable.