Akkad Bakkad Bambe Bo 80, 90 Poore 100
Social Media uses an old children play phrase to describe the rising costs of Petrol in the country
Petrol retailing at Rs 95 (Mumbai) subsequent to 5th straight day of rise in Petrol Prices
Petrol prices have soared to Rs.94.93 per litre and Diesel price jumped to a record Rs. 85.70 a litre at retail petrol vending stations in Mumbai. This has triggered a series of remarks and protests by Indian netizens across all social media sites including Facebook and Twitter. One of the most frequently used satirical phrases being used is “Akkad Bakkad Bambe Bo 80, 90 Poore 100.”
Petrol and Diesel prices have always been a sensitive issue in India, more so when politically used against the government of the day. The reason of it being so sensitive stems from the reason that an increase in the prices of fuel creates further ripple effect which is inflationary for the entire economy.
Retail prices of Petrol has now touched Rs. 88.14 per litre in Delhi while Diesel has steadily climbed to Rs. 78.74 per litre. The Central and State Taxes make up around 61 per cent of the retail selling Price of Petrol and around 56 per cent on Diesel.
The Union government levies an excise duty of Rs 32.9 per litre on petrol and Rs 31.80 a litre on diesel. Since mid-March 2020, Retail petrol rates have risen by Rs 18.87 per litre and Diesel rates have gone up by Rs 16.45, after the government raised taxes by a record margin to mop up gains arising from fall in international oil prices.
Opposition parties, including Congress following the relentless hike in the retail prices has demanded an immediate cut in taxes to ease the burden on the common man. The Union Minister of Petroleum has nevertheless declined to accept any such request.