If unemployment rises and incomes decline, youth may explode in anger: Chidambaram
New Delhi: Senior Congress leader P Chidambaram on Tuesday attacked the Modi government over the state of the economy, saying if unemployment rises and incomes decline, there is a danger of youth and students "exploding in anger".
"The nation is engrossed with the anti-CAA, anti-NPR protests. Both present a clear and present danger," Chidambaram said. The sliding economy is an even greater threat to the country, the former finance minister said in a series of tweets.
"If unemployment rises and incomes decline, there is the danger of youth and students exploding in anger," he said.
Chidambaram also attacked the government over the rising consumer price index (CPI) inflation. Retail inflation jumped sharply to 7.35 per cent in December 2019, surpassing the RBI's comfort level, mainly due to high food prices, government data showed on Monday.
The retail inflation based on Consumer Price Index (CPI) was 2.11 per cent in December 2018 and 5.54 per cent in November 2019.
"The circle of incompetent management is complete. Mr Narendra Modi's government started in July 2014 with CPI inflation at 7.39 per cent. In December 2019, it was 7.35 per cent," Chidambaram said.
"Food inflation stands at 14.12 per cent. Vegetable prices are up 60 per cent. Onion prices are over Rs 100 per kg. This is the 'achhe din' promised by the BJP," he said.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
