Bhatinda, Nov. 3 (ANI): Yoga guru Baba Ramdev on Thursday slammed Congress-led United Progressive Alliance (UPA) Government at the Centre over price rise.
Harried by the speculations of a petrol price hike, Ramdev slammed the government saying it is a deliberate step.
"Price hike is not normal in India. The price rise in the market has been created by political parties and brokers. They are plotting to hike the prices of petrol and it will be increased," he said.
Significantly, Oil Minister Jaipal Reddy on Wednesday hoped a ministerial panel to review prices of fuel sold at subsidised rates will convene before the next parliament session begins, which is likely to be on November 22.
Reddy said revenue losses of India's oil marketing companies because of sales at subsidised rates are expected to hover at 1.3 trillion rupees in this fiscal year ending March 31, 2012.
Reacting to Reddy's statement, Ramdev said the oil companies are in profit.
"The government says that they are suffering loss as they are providing gas at cheaper prices to public. Government is fooling the public by issuing such statements that they are incurring losses. What loss are they incurring? The oil companies are in profit," said Ramdev in reaction to Reddy's statement.
The RBI raised interest rates last month for the 13th and possibly final time in a tightening cycle that began in early 2010, on expectations that persistently high inflation will finally begin to ease starting in December. (ANI)