BJP govt’s policies affecting common man: Congress

The Congress on Sunday charged the central government over proposals to hike life and vehicular insurance premiums and the decision to cut EPF interest rate.

Congress spokesperson Abhishek Manu Singhvi told reporters that productivity, employment and the rupee have fallen, while inflation, social division along with the government’s arrogance have risen. “This government has failed on all fronts,” he said.

He further added, “Decisions taken by this government or rather allowed to be taken by this government without interference, restraint and injunction despite having the power to control and stop is directly impacting three Ps of the common man: purchasing power, planning for future and preparation.” The increase in LPG price does not apply to subsidised quota. A household is entitled to 12 subsidised gas cylinders. The EPF interest rate was recently reduced to 8.5 per cent from 8.65 per cent.

The Congress demanded that the government interferes immediately to reverse these measures. Regulators have proposed more than 20 per cent hike in third-party insurance premiums. This will impact most two-wheelers and three-wheelers besides four- wheelers under 1500 cc category. A similar hike has also been proposed by regulators for life insurance premiums.

The party also attacked the government over its bid to sell stake in India’s second-biggest oil refinery Bharat Petroleum Corp Ltd, asking if this was also an election promise made to “crony capitalist

friends”. In the country’s biggest ever privatisation drive, the government

invited bids for the sale of its entire 52.98 per cent stake in BPCL.