BRS accuses Modi govt of looting public wealth for corporates

BRS leader Putta Vishnuvardhan Reddy accused the BJP-led Union government of burdening people while benefitting corporates like Ambani and Adani through Russian crude imports. He claimed fuel taxes, tariffs and loan write-offs have cost citizens heavily despite global crude prices falling

Hyderabad: BRS leader Putta Vishnuvardhan Reddy on Friday attacked the BJP-led Union government for burdening common people while favouring corporate giants like Ambani and Adani through crude oil procurement from Russia. He said India’s imports of Russian crude had not benefitted citizens, and instead severely impacted the textile and manufacturing sectors due to the latest 50 per cent tariff imposed by the US.

“Prime Minister Modi has imposed a burden of Rs 5 lakh crore on people through these tariffs,” he said.

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Speaking at Telangana Bhavan, Vishnuvardhan Reddy alleged that while Reliance imported large volumes of Russian crude, the company re-exported it to Europe, earning profits of Rs 1.5 lakh crore. “Instead of strengthening public sector enterprises, Modi is handing over national wealth to corporate vultures,” he said. He also alleged that the Centre had written off corporate loans worth Rs 16 lakh crore over the last 11 years of BJP rule.

He pointed out that despite crude oil prices dropping from $107 per barrel in 2014 to $47 now, fuel prices in India remain among the highest globally. “In 11 years, Modi has looted Rs 40 lakh crore from people through fuel taxes. Each family has paid an average of Rs 1 lakh in taxes on petroleum products,” he said, adding that LPG cylinder prices have also placed India among the costliest countries.