With two back to back covid lockdowns in two consecutive years intensifying the financial woes of traders in Jammu & Kashmir like their contemporaries in other parts of the country, the rising fuel prices are consequently shooting up prices of essential commodities in Jammu & Kashmir like several other parts of the country. Though crisis triggered by rising fuel prices deserves attention of the policy makers overseeing the regulation of fuel prices in Delhi but the central government does not pay any heed to unprecedented rise in fuel prices which consequently scale up the prices of essential commodities in Jammu & Kashmir like other parts of the country. While the fact remains that retail prices of petrol and diesel are increasing unprecedentedly because of taxes, it is for the central government to take measures for taking a call on the fuel taxes. As increase in fuel prices consequently triggers increase in the prices of the essential commodities, the consumers bear the brunt. While fuel price increase have undoubtedly triggered unprecedented rise in the prices of essential commodities due to quiescent approach of the central government on fuel taxes, the J&K Government does not keep a constant vigil over the market forces influencing rise in prices of essential commodities. With easing of covid restrictions the operation of transport services also heading for full restoration would by all standards of understandabilities trigger more increase in the prices of essential commodities amid increasing financial stress on the hapless populations triggered by back to back two covid lockdowns in last two consecutive years. A bad trend set by the increasing fuel prices has to end somewhere sooner than later but all depends on the attention and intervention of the policy makers of the central government on rising fuel prices.
Reducing the fuel taxes is not just a requirement for controlling the increasing fuel prices but this is a major economic concession required for reviving the routine trading and business operations not only in Jammu & Kashmir but also in other parts of the country. Interestingly the whole issue of increasing fuel prices revolves around increase in prices of essential commodities more so in Jammu & Kashmir than several other parts of the country.
The crisis is not just of the financial stress triggered by back to back two covid lockdowns in last two years but also of the increasing prices of essential commodities triggered by increasing fuel prices in Jammu & Kashmir like several other parts of the country. Since fuel taxes are not in control, it is for the central government to bring under control fuel taxes for reducing the trend of daily increase in the fuel prices. No doubt easing of covid restrictions has started revival of trading activities but increasing fuel prices have cast a shadow over the revival of the trading and business activities not only in Jammu & Kashmir but also in other parts of the country. So reducing the fuel taxes is not just a requirement for controlling the increasing fuel prices but this is a major economic concession required for reviving the routine trading and business operations not only in Jammu & Kashmir but also in other parts of the country. Interestingly the whole issue of increasing fuel prices revolves around increase in prices of essential commodities more so in Jammu & Kashmir than several other parts of the country.
