“Everyone thinks that the central government will take steps to reduce the ever-increasing petrol, diesel, and gas prices,” but Finance Minister Nirmala Seetharaman came to us with bitter news regarding that. The central government is ignoring the advice of the Reserve Bank and the Opposition to bring down petrol and diesel prices. Without stopping there, measures were taken to privatize the insurance sector.
Central Minister Nirmala gave the answer during a debate in Parliament on Monday.
On this occasion, he said that the issue of bringing petrol, diesel, jet fuel, and natural gas under the purview of the GST Council was not under consideration. Everyone is saying that adding petroleum products to the GST, which came into effect on July 1, 2017, will bring down prices. Even so, the Central government didn’t accept it, people are incensed about it.
It is a known fact that a Union Minister has announced that petrol prices will come down after the winter. That too is now claimed to be non-existent. According to the latest bill on FDI inflows into the insurance sector, 74 percent of the total FDI in insurance will be allowed. However, if the bill is passed, the insurance sector will also be dominated by the private sector.