Vidarbha Taxpayers Association (VTA) has dispatched a memorandum to the Prime Minister Narendra Modi expressing serious concern over the growing inflationary pressure being faced by the country due to the ongoing geopolitical tensions and war-like situation involving the United States and Iran.
VTA stated that India is now beginning to feel the economic impact of the international crisis, particularly through the recent increase in fuel prices by nearly 4%, which has started affecting transportation costs and prices of essential commodities.
The Association highlighted that diesel remains the backbone of logistics and supply chains, directly or indirectly influencing the pricing of almost every commodity and service across the country. The resultant inflation is putting additional pressure on industries, businesses and common citizens alike.
In its memorandum, VTA has appealed to the Government of India to consider temporarily putting certain cash subsidy disbursements on hold for a limited period until the global situation improves and fuel prices stabilize.
Commenting on the issue, VTA President Shrawan Kumar Malu said, the country is passing through a sensitive economic phase due to global tensions. While welfare schemes are important, extraordinary circumstances require balanced and practical economic decisions. A temporary review of cash subsidy distribution can help the government manage rising fuel costs and inflation more effectively.
VTA Secretary Tejinder Singh Renu added, industries across sectors are already struggling with rising operational costs due to fuel price hikes. Diesel impacts every commodity in one way or another. We believe that a temporary suspension of certain cash subsidies can provide the government additional financial flexibility to cushion inflationary pressures in the nation’s larger interest.
VTA further stated that widespread cash subsidy distribution has also indirectly affected the availability of labour force in several sectors, a concern being increasingly voiced by industries and business establishments. The Association emphasized that its suggestions have been made purely in the national interest and with the intention of supporting economic stability during a difficult international situation.
The memorandum concludes with a humble appeal to the Prime Minister and the Government of India to take an appropriate and balanced decision in the interest of the nation’s economy and taxpayers.
👉 Click here to read the latest Gujarat news on TheLiveAhmedabad.com