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Thursday, July 9, 2009

BJP demands rollback of hike in petrol, diesel prices

Accusing the UPA government of "plundering" the common man, the opposition BJP today demanded a rollback of hike in prices of petrol and diesel.

"We condemn the government for hastily raising prices of petrol and diesel even as international prices for the crude oil have come down. We demand its immediate rollback," party spokesperson Prakash Javdekar told reporters outside Parliament.

"They (UPA) sought votes during election in the name of aam admi. They have betrayed the people and are indulging in loot and plunder," he added.

The BJP leader also accused the Centre of doing "nothing" over a "drought like situation" prevailing in the country and demanded the government implement a contingency plan if rains do not happen.

"Farmers are suffering because of no rains. The government has done nothing and is simply tormenting the farmers. If rains do not take place, government should implement a contingency plan," Javdekar said.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Tuesday, Jun 10
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.2% 5.4% 5.5% Revised from 5.6%
15:30 NFIB Business Optimism Index 1 98.8 95.9 95.8
18:25 Redbook Index (YoY) 1 4.7% 4.9%
21:00 52-Week Bill Auction 1 3.94% 3.93%
22:30 3-Year Note Auction 1 3.972% 3.824%
Wednesday, Jun 11
02:00 API Weekly Crude Oil Stock 1 0.7M -3.3M
04:15 Visitor Arrivals (YoY) 1 -8.4%
15:00 10-y Bond Auction 1 4.673%
16:30 MBA Mortgage Applications 1 -3.9%
18:00 Building Permits (MoM) 1 2.2% -4.1%
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