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PM Modi: Diesel Prices Needed ₹50 Increase, Only ₹7 Raised
Sentiment: NeutralHigh Priority
What Happened?
Prime Minister Narendra Modi stated that despite rising crude oil prices, the government limited the diesel price increase to ₹7 instead of the necessary ₹50. He emphasized the government's commitment to protecting farmers.
Key points
- PM Modi spoke at the 'Kisan Tak Bharat Agriculture Conference 2026'.
- International crude oil prices rose from $70 to $122 per barrel due to conflict in West Asia.
- The government incurred a monthly loss of ₹14,000 crore due to limited diesel price increase.
- ₹16 lakh crore has been spent on affordable fertilizers over the past 12 years.
- DAP fertilizer costs ₹5,000 internationally but is sold to Indian farmers for ₹1,300.
- Urea fertilizer costs ₹3,000 internationally but is available for less than ₹300 in India.
Key insights
- The limited increase in diesel prices may help maintain farmer support during economic challenges.
- Government's financial losses could lead to future policy adjustments regarding fuel pricing.
- Efforts to connect small farmers to export markets could enhance their income opportunities.
Why it matters
This decision impacts farmers' costs and the government's financial burden amidst rising global oil prices.
Tags
Entities
Narendra Modi· PersonIndia· CountryKisan Tak Bharat Agriculture Conference 2026· Event
Source
India Today
