Petrol will soon touch Rs 100: Andhra CM

1. Petrol will soon touch Rs 100: Andhra CM

2. Current Affairs : Criticising the Narendra Modi-led government for the continuous rise in fuel prices, Andhra Pradesh Chief Minister Chandrababu Naidu opined that soon, petrol would be sold at Rs. 100 per litre. Addressing a press conference on Monday, the Chief Minister said that in addition to petrol prices, the rupee value would also touch Rs.100 against one US dollar. In the wake of the Reserve Bank of India’s (RBI) report on demonetisation, Naidu said the Centre was unable to “properly manage demonetisation.” “What have we achieved from demonetisation? We are seeing the condition of banks today. Big notes should be abolished. What is the need for having Rs 2000 note? The Modi government could not properly manage demonetisation. I have no problem if digital currency comes fully into existence, but there needs to be proper balancing between digital and physical currency,” he said. Furthermore, Naidu said cash shortage was still prevalent in many parts of the country, adding that the recent growth in India’s Gross Domestic Product (GDP) was a result of the “basic strength” of people, and “not due to NDA’s achievements.” “(Prime Minister) Modi is not disciplined, it is inability. Even today, cash shortage is prevailing in ATMs. Nation’s growth rate came down after NDA came into power. If the Centre is disciplined, why is corruption taking place? Why are banks getting insolvent? Modi is not eligible to speak about sincerity, truthfulness, and discipline,” he noted. With regards to schemes and measures implemented during his tenure as Chief Minister, Naidu said that efforts…Read more