Chennai: Tamil Nadu Chief Minister J Jayalalithaa on Saturday slammed the Centre on the issue of Rupee depreciation and said that the latest petrol price hike spurred by the weak currency showed Congress-led UPA's ‘administrative incompetence and incapability.’
"Instead of taking steps to control the falling value of Rupee, the reason for the fuel price hike, Central Government is just revising the rate of petrol as per its whims and fancies and this is the best example of its administrative incompetence and incapability," she said.
Petrol price was yesterday hiked by Rs 1.82 a litre, the third increase this month, as the falling Rupee had made imports costlier.
She described the latest hike as ‘height of deceit.’ The latest hike came within 15 days of the previous revision of petrol rates and the TN CM strongly condemned the Centre’s attitude.
"Centre's wrong economic policies and its fuel pricing policies are the reason for repeated increase in prices. The Centre and RBI can take steps to control the falling value of Rupee, but they are instead, passing the burden on to the
people, which is unacceptable," she said in a statement.
She said if Centre was not equipped to handle the problem, it should focus on retrieving black money stashed abroad. Had this been done, there would not have been any need to revise fuel prices.
"But the Congress government at the Centre is silent on the black money issue. It is helping those who possess black money," she alleged.