BJP, Congress spar over fuel prices as Lok Sabha debates Finance Bill

The Congress on Monday (March 23, 2026) accused the Centre of holding back a hike in petrol and diesel prices in view of the upcoming Assembly elections, a charge the BJP categorically rejected.

The ruling party said that the government’s efforts to secure diversified energy sources should be appreciated.

Initiating a discussion on the Finance Bill in the Lok Sabha, Congress member Amar Singh criticised the government’s tax policies, pointing to a disparity between corporate and income tax collections. He argued that despite lower corporate tax rates, high net-worth individuals were increasingly investing abroad rather than within the country.

Owing to elections

Mr. Singh also linked the government’s reluctance to raise fuel prices to electoral considerations, noting that global crude oil prices had risen amid the West Asia conflict, leading to higher fuel costs in several countries.

Responding to the criticism, BJP member Nishikant Dubey said the government should be commended for shielding consumers from price hikes. Citing Prime Minister Narendra Modi’s earlier remarks in the House, he said India had expanded its sources of crude imports from 27 countries to 41, reflecting sustained efforts to enhance energy security.

Mr. Dubey further alleged that key legislations such as the Benami Transactions Act and provisions relating to minimum alternate tax were not effectively implemented during Congress regimes in the past.

Participating in the debate, DMK member Arun Nehru accused the Centre of not adhering to the Fiscal Responsibility and Budget Management (FRBM) framework while urging States to maintain fiscal discipline. He also flagged rising trade deficits under various free trade agreements, including those with ASEAN, the UAE, Japan and South Korea.