New Delhi: While responding to sharp rise in fuel prices of late, newly appointed cabinet minister for Petroleum and Natural Gas Dharmendra Pradhan said he is quite confident by Diwali fuel prices will come down.
While speaking to us Mr. Pradhan said, “Looking at the current rate of GDP growth and reports I am getting from the ground it is definitely looking good for fuel prices”. Elaborating on his point Mr. Pradhan said, “Many have lost jobs, but the rate of job loss from here onwards would show exponential growth which will bring down the demand for fuel. When one will not have job, so naturally he or she won’t have to go to Petrol bunks to fill the bike or four-wheeler. Even demand for shared cabs, office cabs will come down drastically.”
Mr. Pradhan added, “The job loss has multiple positive effects on fuel consumption. With less traffic on road, the people on the road who are yet to get pink slips can reach office early consuming less fuel. This is what economists call multiplier effect. Signals I am getting from the ground tells me multiplier effect has already kicked in. Matter of time, we will all see lower fuel prices.”
“My ministry officials are working closely with other ministry officials. We will leave no stone unturned in achieving the ‘hard targets’ we have set for ourselves before this Diwali,” said Mr. Pradhan.
When we asked Mr. Pradhan when Petroleum products will come under GST gambit, he said, “GST mein aane se koi fayada hua hai baki products ko. So, what help it will provide for petroleum products. GST means Growth Slowdown Tax. Already finance ministry has helped a lot by bringing slowdown across sectors through demonetization then through GST, no further help we need. As I told, things are looking good, have patience and wait for Diwali which is hardly a month away.”
On ‘achhe din’ when it will come, Mr. Pradhan said, “Already PM has told about it in many forums. There is slight delay. Current ETA (Estimated Time for Arrival) for it is 2022.”