Petrol, diesel prices are hurting industry, time to reduce them, says CII president

Petrol, diesel prices causing way more damage than expected

The petrol and diesel prices are hurting industries and it is the right time to give relief to the common man as well as industries, was stated on Saturday by the newly elected president and managing director of Tata Steel TV Narendran. The petroleum products should be brought under the Goods and Services Tax(GST), he further added.  Petrol, diesel prices are hurting industry, time to reduce them, says CII president

The rural unemployment rate has shot up from 8per cent to 14 per cent which is almost double, due to the Covid 19 were also cited by him. He further added that by cutting 2-3 per cent GST rate on consumer goods for six months government can provide some sort of relief to those who have lost their jobs or faced salary cuts. The government has room to provide a ₹3lakh crore stimulus as said by Narendran.

He also stated that the country is ready to face the third wave if it comes, Dr. Randeep Guleria stated that the third wave is inevitable and could hit the country in the next six to eight weeks as people don’t seem to have learned from the first and the second wave and crowds are building up, people are gathering so people need to remember the Covid appropriate behaviour.

He also stated that government derive from 30 lakh per day should be increased to a minimum of 70 lakh average daily vaccination doses starting now till December 2021 to be able to cover the entire adult population.

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