The Narendra Modi-led government's latest move to increase the price of commercial LPG cylinders by Rs 993 has sent shockwaves across the country. This hike, which takes the cost of a 19 kg cylinder in Delhi to Rs 3,071.50, has left small business owners reeling. The Congress party has seized on this opportunity to attack the government's economic policies, labeling the Prime Minister 'Inflation Man Modi'.

The Congress's scathing criticism is not without merit. As the party's post on X reveals, this is not the first time commercial LPG prices have seen a sharp increase under the current government. In just four months, the price of a commercial cylinder has risen by Rs 1,518. This staggering figure has left many questioning the government's handling of the economy. Manickam Tagore, a Congress MP, has been vocal in his criticism, linking the timing of the hike to the conclusion of polling in parts of the country.

Tagore's assertion that the price hike is a deliberate attempt to burden small businesses and vendors is not unfounded. The impact of this increase will be felt far and wide, with tea shops, restaurants, and other small-scale establishments forced to raise prices. This, in turn, will have a cascading effect on consumers, exacerbating the already pressing issue of inflation. The Congress is right to frame this as a pattern of price hikes, with the government seemingly oblivious to the plight of small businesses.

The government's defence, however, suggests that the increase is a necessary step to align domestic pricing with global trends. Officials point to the volatile nature of global crude oil prices, driven by geopolitical tensions in West Asia. As India relies heavily on imports for LPG, prices of commercial and non-subsidised cylinders are inevitably linked to international benchmarks. The government's calibrated approach to shield household consumers from the brunt of price volatility is a welcome move, but it does little to alleviate the concerns of small businesses.

The opposition's attack on the government's economic policies has set the stage for a broader debate on energy pricing and its impact on the economy. As the country navigates the challenges posed by volatile global crude oil prices, it is imperative that the government takes a more nuanced approach to pricing. A balanced policy that protects both consumers and small businesses is the need of the hour. Anything less will only serve to exacerbate the already pressing issue of inflation, leaving the economy reeling in its wake.