The fuel prices in India were reduced ahead of the elections. The government decision brought a big relief for the common man with the fuel prices. However, the relief is said to be short-lived as the fuel prices are expected to be hiked for one time.
Audit & assurance firm Deloitte Touche Tohmatsu India, LLP had predicted that the fuel prices might be increased in the country to around ten rupees, which could make fuel even costlier.
The firm in its report said that the reason behind not increasing the fuel prices in the last few months is because of the elections. As it could impact the elections, the government had reportedly opted to not hike the fuel prices.
There is a possibility of the petrol prices getting hiked by 8-9 rupees per litre once the elections in poll-bound states get over. Keeping the elections in mind, the fuel prices remained unchanged, the firm said.
The firm went on to say that the petroleum companies have not been increasing the prices despite the changes in the prices of crude oil in the wake of the elections hitting the states and Union Territories.
It has been widely reported that the companies have decided to hike the petrol prices in the country to deal with the inflation. The Indian economy was hit very hard by the Covid and as a result, several sectors found themselves in the middle of the losses, and crores of people lost their jobs.
The Election Commission of India had recently issued the notification for the general elections in five states and Union territories. The elections have started with the Land of Gods Uttar Pradesh, which is the largest state in terms of population.
The polls will be held in a phased manner starting with Uttar Pradesh. The Bharatiya Janata Party-ruled Uttar Pradesh has more than 400 MLA seats and the elections for the same will be held in phases.
The BJP is likely to face a tough battle in Uttar Pradesh with the BJP and Prime Minister Narendra Modi facing anti-image post the Covid outbreak. We have to wait and see how the BJP is going to win the polls.
Audit & assurance firm Deloitte Touche Tohmatsu India, LLP had predicted that the fuel prices might be increased in the country to around ten rupees, which could make fuel even costlier.
The firm in its report said that the reason behind not increasing the fuel prices in the last few months is because of the elections. As it could impact the elections, the government had reportedly opted to not hike the fuel prices.
There is a possibility of the petrol prices getting hiked by 8-9 rupees per litre once the elections in poll-bound states get over. Keeping the elections in mind, the fuel prices remained unchanged, the firm said.
The firm went on to say that the petroleum companies have not been increasing the prices despite the changes in the prices of crude oil in the wake of the elections hitting the states and Union Territories.
It has been widely reported that the companies have decided to hike the petrol prices in the country to deal with the inflation. The Indian economy was hit very hard by the Covid and as a result, several sectors found themselves in the middle of the losses, and crores of people lost their jobs.
The Election Commission of India had recently issued the notification for the general elections in five states and Union territories. The elections have started with the Land of Gods Uttar Pradesh, which is the largest state in terms of population.
The polls will be held in a phased manner starting with Uttar Pradesh. The Bharatiya Janata Party-ruled Uttar Pradesh has more than 400 MLA seats and the elections for the same will be held in phases.
The BJP is likely to face a tough battle in Uttar Pradesh with the BJP and Prime Minister Narendra Modi facing anti-image post the Covid outbreak. We have to wait and see how the BJP is going to win the polls.