AAP slams Narendra Modi govt over natural gas price hike

Written by PTI | New Delhi | Updated: Oct 19 2014, 16:18pm hrs
Aam Aadmi Party (AAP) today slammed BJP-led Narendra Modi government for increasing the price of natural gas and said it was "unjustified" and would have a cascading effect on prices in multiple sectors.

"Though the Narendra Modi government for now appears not to have endorsed the decision of the previous UPA government to double the gas prices from USD 4.2 to 8.4, but a closer look shows that it could be the first in a series of hikes coming soon," the AAP said in a statement.

The party also said that this government's decision to revise the prices every six months leaves enough room for further hikes in quick succession.

Central government today approved raising natural gas price to USD 5.61 per mmBtu from November 1.

Gas price increase had been deferred on three occasions previously.

The previous UPA government had in June last year approved a price formula suggested by a panel headed by C Rangarajan and re-confirmed it in December 2013 with certain conditions for Reliance Industries' eastern offshore KG-D6 block.