NEW DELHI: Former Union Minister for Finance and senior Congress leader P Chidambaram on Sunday took a jibe at the country's skyrocketing airfares and said that India will be the Vishwaguru to the world on monopolistic capitalism. Chidambaram said that today Chennai to Delhi business class fare is around Rs 63,000.
In this regard, Chidambaram took to Twitter and said, "Delhi-Chennai Business Class air tickets on Vistara and Air India have been set at a 'reasonable' price of Rs 6300 and Rs 5700 respectively. Oops, sorry, they are set at a 'very reasonable' Rs 63,000 and Rs 57,000 respectively."
Chidambaram spoke about the issue of airfares in demand and supply terminology. "In free markets, when demand increases, supply will increase. In India's free market, when demand increases, prices will increase," he tweeted.
"Airlines will expand their routes, curtail flights on old routes and jack up prices. India will be the Vishwaguru to the world on monopolistic capitalism," he further tweeted. Recently Congress leader and former Civil aviation minister KC Venugopal criticised the government for its alleged indifference to the plight of air travellers.
He tweeted, "These skyrocketing airfares are wreaking havoc among the middle class. Govt's complete free pass to airlines and their rampant privatisation spree are responsible for today's dire situation."
In response, Jyotiraditya Scindia slammed Venugopal for his "injudicious and misinformed remarks". "We have advised airlines to self-regulate their fares under a certain limit-- the result of which is to reduce prices by 14 pc--60 pc with effect from June 6, 2023," Scindia tweeted.
On June 5, Scindia called a meeting with the Airlines Consultative Group to discuss the issue of abnormal increased pricing on specific routes.
Airlines were instructed to self-monitor airfares on select routes, especially those served by GoFirst, which recently filed for bankruptcy, leading to flight cancellations. The minister is closely monitoring the air fares on a regular basis.