Sibal attacks govt over rise in prices of fuel, vegetables

Sibal attacks govt over rise in prices of fuel, vegetables
Sibal attacks govt over rise in prices of fuel, vegetables

New Delhi, Nov 24 | Congress leader Kapil Sibal on Wednesday attacked the Centre over the inflation, and said it has reached ‘milestones’ in price graphs.

Sibal said in a tweet, “Price graphs Price: petrol: Rs 103 per litre diesel: Rs 83 per litre tomatoes: Rs 85 to Rs 125 per kilo Signal milestones! Acchhe Din!”

The Congress has been consistently slamming the government for rising inflation. It has said that the party will raise the issue in Parliament and organise a rally in mid-December to highlight the plight of the people.

The Congress said that the government has ‘imposed section 144 in the kitchen, when it comes to tomatoes and onions’.

“Why is it that we are paying Rs. 100 for a kilogram of tomatoes, Rs. 120 for capsicum, Rs. 50 for onions? Why is it that the farmers find it difficult to produce these commodities because of the input cost, which is very high? We have been repeating here, GST on agricultural equipments, the price of DAP, the price of diesel, after all, all these commodities come from various parts of the country to the Azadpur Mandi here.” said Pawan Khera

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The Congress alleged that the common component of the inflation is the price of fuel, which has seen an unprecedented hike.

Khera said Prime Minister Modi has many problems, but, one of them is, that he realises his mistakes, a year later. “Farmers’ bill, the black laws, demonetisation, he silently acknowledges his mistake, because they don’t celebrate the anniversary of demonetisation anymore. They never celebrated it. 2017 was the last time they celebrated it and then they withdrew it.”

The Congress said the common man struggles to pay EMIs, monthly bills, whether it is milk, petrol, diesel, cooking oil, vegetables. The party has criticised the GST on readymade garments and footwear which has been increased from 5 per cent to 12 per cent.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India



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