Thread by @rishibagree

Petrol Prices in Kolkata when Manmohan Singh Sworn in
May 2004 - 38.69

Petrol Prices in Kolkata when Manmohan Singh exited
May 2014 - 79.26
CAGR of petrol prices during UPA = 7.43%

Petrol Prices in Kolkata today
16 Feb 2021 - 90.10
CAGR of petrol prices during Modi Govt = 1.82%

Out of these fuel prices 65% are taxes of which 2/3rd goes to state. Centre need 1/3rd of these taxes to carry out its welfare schemes and Capex.

Capex - 7 lakh cr
MSP - 2.2 Lakh cr
PM Kisan 70k cr
Ayusman Bharat 15k cr
Free Vaccine -35k cr
Free Housing
Pipe water connection

Govt Expenditure is rising so it can't forgo its excise income. It also need cushion for GST in which it has promised to pay 14% increment tax to states. So Govt is filling its Hole, controlling its Fiscal deficit to reasonable level making India a Magnet to foreign flows & FDI.

There is more to it:
Price of 79 in 2013 was subsidized. Today its 90 without subsidy and taxes are being used for development of the country. There is no debt created nor any fiscal deficit is compromised by printing cash which eventually lead to high double digit inflation

Reference to historical petrol prices