With the Petrol and Diesel prices reaching sky high, the finance ministry has come out with an announcement that will finally make the customers happy. The Finance ministry was continuously working to help customers who are unhappy with the price hike on a regular basis. Launching an 85 Rs note is the first step that will be taken in that regard. Subsequent steps are being planned and will be executed at a later stage.
Finance ministry did an extensive research on the problems faced by people due to the price hike and the ministry is sure that the problem is not the price hike but the problem in giving the exact amount after filling petrol in their vehicle tanks. The Finance Ministry is in talks with the RBI to launch currency notes of 75, 85 and 90 to cater to the current and expected price of 1L petrol. Reducing the price of Petrol is still not being discussed and the government is pretty sure that once the new currency notes are in the market, the problems related to the price hike will vanish.
Though the government was pretty sure about the impact of Digital India and more and more people using digital means to pay for commodities like petrol, the launch of new currency notes is not digestible. But we can at least rest assured that the Government will take such concrete steps in future too to ease the burden of price rise.