New Delhi: The Prime Minister's Chief Economic Advisor Dr C Rangarajan has admitted that a hike in diesel and LPG prices is imminent despite a steep hike in petrol prices last week. While speaking to Karan Thapar on Devil's Advocate, Dr Rangarajan said the government can soften the blow but fuel price hike is the need of the hour to contain the fiscal deficit. Here's an excerpt of the interview:...
07:17 AM, Jun 02, 2012
New Delhi: The Finance Ministry is considering raising the excise duty on diesel cars. The suggestion was mooted long back by the Oil Ministry. This came after the inter ministerial group on inflation and diesel pricing options met on Monday. However, Oil Minister Jaipal Reddy has categorically said that the government was not considering a hike in diesel, LPG and kerosene prices right now. Government sources said that the Empowered...
01:11 PM, May 28, 2012
New Delhi: The UPA government may face more flak over the next few days. Sources have told CNN-IBN that after petrol a diesel price hike is on the cards as well. In fact the government may hike prices as early as June. Sources have also said that the timing will depend on the political scenario, the way the rupee moves as well as on the market conditions. CNN-IBN has also...
07:33 AM, May 26, 2012
New Delhi: Congress has conveyed to the government that a hike in diesel prices was not advisable at the moment, according to sources. Congress also said that even though a hike in petrol prices was required, the timing was wrong. "Petrol price hike should not have taken place a day after the UPA-II report card was presented and Parliament session ended," Congress sources said. The Empowered Group of Ministers (EGoM)...
02:17 PM, May 24, 2012
New Delhi: The hike in prices of petroleum products, including diesel and cooking gas, is likely to have upward pressure on inflation, that crossed 9 per cent mark in May, experts said. "It (the hike) will increase inflation by about 50-60 basis points," Crisil chief economist D K Joshi said. With volatility in crude oil prices in global market, the hike in petroleum product prices was widely expected. "Inflation was...
10:25 PM, Jun 24, 2011
New Delhi: In a bid to bring some respite to the bleeding Oil companies, the government on Friday hiked the prices of diesel by Rs 3 per litre. The government also hiked the price of kerosene by Rs 2 a litre and cooking gas by a steep Rs 50 a cylinder to raise Rs 21,000 crores, and slashed customs and excise duties on petroleum products, sacrificing Rs 49,000 crore a...
08:35 PM, Jun 24, 2011
Surging crude prices have forced the Government to hike prices. ...
02:34 AM, Jul 02, 2009
For the first time after it was re-elected the UPA raised fuel prices. ...
06:26 PM, Jul 01, 2009
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