Attributing the recent rise in fuel prices to a hurricane in the US, Union minister Dharmendra Pradhan on Saturday said the rates will come down in the next few days.
"Fuel prices have gone up recently due to the hurricane in the US. As the prices reduce in the international market, they will come down here also," the Petroleum and Natural Gas Minister told reporters here.
The rates have already started to come down in the last three days," he said, adding that the petrol and diesel prices had been linked to the market since the last 20 years.
When asked over the possibility of reduction in taxes on petroleum products to curb the fuel prices, Pradhan said taxes can't be slashed as funds are necessary for infrastructure development and welfare schemes.
"Don't you need good roads? Don't you need pure drinking water? Don't you need good education for your children? Dono haath main laddu nahi ho sakte (You cannot have laddus in both your hands)," Pradhan said.
"In democracy, it is from the taxes of the people that welfare schemes are funded. This is not any hidden system. Everybody knows that most part of the revenue earned through taxes is spent on the welfare schemes," he added.
Pradhan also expressed hope that petroleum products will soon be brought under the ambit of GST.
"We have brought GST with consensus of all states. I am hopeful that petroleum products will also come under GST soon," he said.
