Congress leader Rahul Gandhi on Wednesday issued a ‘stagflation’ warning to Prime Minister Narendra Modi amidst reports claiming that domestic coal-based plants in India have supplies left for just over 8 days.
Gandhi wrote on Twitter, “8 years of big talk has resulted in India having ONLY 8 DAYS of coal stocks. Modi ji, stagflation is looming. Power cuts will crush small industries, leading to more job losses. Switch off the bulldozers of hate and switch on the power plants!”
Gandhi’s warning comes amidst rising fuel prices adversely impacting Indians across the country. A litre of petrol in Delhi now costs Rs. 105.41, while the diesel rate stands at Rs. 96.67 per litre. The price for one litre petrol in Mumbai costs
Rs. 120.51 while diesel is being sold at Rs. 104.77 per litre.
One litre of petrol costs Rs 110.85 and Rs 115.12 in Chennai and Kolkata respectively, while diesel price stands at Rs. 100.94 and Rs 99.83 respectively.
Stagflation means a prolonged period of high inflation coupled with high unemployment and stagnant demand in a country’s economy.
India’s annual wholesale price-based inflation increased to a record 14.55% in March from 13.11% in February.