'Rising GDP means rise in prices of gas, diesel and petrol': Rahul Gandhi slams Modi government

Pointing out that the rise in price is happening when the international crude and gas prices are falling, he said the Centre has amassed Rs 23 lakh crore

On a day the prices of cooking gas cylinders across all categories were hiked by Rs 25 per cylinder, Congress leader Rahul Gandhi on Wednesday once again targeted the Centre, claiming that a new concept of GDP in the country wherein its increase actually means an increase in Gas, Diesel and Petrol prices.

Rahul said Prime Minister Narendra Modi lacks a "new vision" to take the country out of the mess created by his government as the economic strategy adopted between 1991 and 2012 is "no more working".

Addressing a press conference here, he said the collapse of the GDP was a symptom of the "catastrophic failure" of the country's economy and warned that the situation could go out of control if the crude oil prices increases to $90 or 100 per barrel.

Rahul said Prime Minister Narendra Modi lacks a "new vision" to take the country out of the mess created by his government as the economic strategy adopted between 1991 and 2012 is "no more working".

Addressing a press conference here, he said the collapse of the GDP was a symptom of the "catastrophic failure" of the country's economy and warned that the situation could go out of control if the crude oil prices increases to $90 or 100 per barrel.

"Modi-ji is saying the GDP has risen. The Finance Minister (Nirmala Sitharaman) says it's above the projections. The government has a new concept of GDP. An increase in GDP actually means an increase in gas, diesel and petrol (GDP) prices," Rahul said.

Rahul's attack came on a day the prices of cooking gas cylinders across all categories were hiked by Rs 25 per cylinder, which was the third straight increase in rates in less than two months. Congress also used a hashtag "#IndiaAgainstBJPLoot" on social media.

Also Read — Congress slams Centre over rise in cooking gas prices

The former Congress president said crude oil prices have decreased from $105 in 2014 to $71 and international gas prices from $880 per metric tonne to $653 but petrol prices have risen from Rs 71.51 to Rs 101.34 and diesel from Rs 57.28 to Rs 88.87. Cooking gas cylinder price has risen from Rs 410 to Rs 885.

"The Prime Minister, the Finance Minister are panicking. Modi is afraid that he will not be able to fulfill the promises he had made. The government is feeding off fuel price hikes. The day international crude prices go up, things will get out of control for this government," Rahul said.

Pointing out that the rise in price is happening when the international crude and gas prices are decreasing, he said the Centre has amassed Rs 23 lakh crore.

"The question is where did it go? It is not going into the pockets of the common man. We will have to ask. The Finance Minister is talking about monetisation of assets. The country's assets are given away at throw away prices to the Prime Minister's industrialist friends," he said.

Asked why people have not still hit the streets in large numbers though Opposition parties have organised protests, he said anger is growing and there will be a "massive reaction" to the growing price rise. "There is anger. We also don't want lakhs of people on the streets during the Covid-19 pandemic," he added.

To a question on whether Congress-ruled states would bring down VAT on fuel, he said the issue is about Rs 23 lakh crore being amassed by the Centre. "The issue is what the Centre is doing when the international prices are going down and not what Chhattisgarh or Punjab government would do. Why people are being made to pay. The Centre is taking Rs 23 lakh crore and not the states," he said.

Rahul warned that the country could see a repeat of 1991, when India's economy faced serious troubles, and said the current problems are not cyclical problems but structural in nature. "The present problem is that the system which ran between 1991 and 2021 has become non-functional. We need a new approach, a new vision," he said.

He said the stock market is rising but it is benefitting only around 50 companies. There are other 400-500 companies in the market but they are facing existential problems but they are not in the radar of the Modi government, he claimed.

"These 400-500 companies are actually the backbone of the Indian economy which provides jobs and not the 50. These 50 companies have their space but they can't give you jobs. There is no space for these 400-500 companies, which are small and medium companies, in Modi-ji's mind," he added.