Fuel price hike not only affects those with cars, bikes: RBI Guv Shaktikanta Das

Reserve Bank of India Governor Shaktikanta das on Thursday said fuel price hike has a far-reaching impact, beyond those who use cars and bikes. “Diesel and petrol prices do have an impact on the cost side. They play as cost-push factors across a range of activities. It’s not just that passengers who use cars and bikes. High fuel prices also have an impact on cost manufacturing, transportation and other aspects,” Das said delivering the keynote address of the 185th foundation day celebration of the Bombay Chamber of Commerce and Industry.Calling for joint action by the Centre and the states to reduce fuel price, Das said, “There is a need for coordinated action between Centre and states to reduce taxes because there are indirect taxes levied both of them. We realise that states and Centre have their revenue pressures and require high sums of money to enable the country and people to come out Covid-19 stress.”

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