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Diesel, LPG Prices Likely to Go Up If Govt Approves Kelkar Report

By SiliconIndia  |   Monday, 07 January 2013, 05:02 Hrs   |    2 Comments
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Bangalore: Indians’ New Year excitement might be shattered as the prices of Diesel, kerosene and cooking gas (LPG) may be hiked soon by the government on the recommendations of Vijay Kelkar Committee in order to correct fiscal deficit of the nation’s economy.



The Kelkar Committee was appointed by Finance Ministry to suggest a roadmap for fiscal consolidation and also assist the ministry in making fiscal policy which can help in reducing deficits and the accumulation of debt. Hence, the committee has suggested that an immediate hike in prices of diesel by 4 per litre, of kerosene by 2 a litre and of LPG by 50 per cylinder and complete deregulation of diesel prices by start of 2014-15 fiscal, will be a good tool for cutting down the fiscal deficit.



"That (Vijay Kelkar committee recommendation on deregulating diesel and raising kerosene and LPG rates) is a proposal. It is still at proposal stage. The (Petroleum) Ministry is only processing that report and we are yet to take a decision," said Oil Minister M Veerappa Moily.



The panel had in September recommended 'immediate increase in Petroleum prices.



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Reader's comments(2)
1: PM HINTS AT RATIONALIZING FUEL PRICES THAT COULD HAPPEN IN 72 HOURS A REAL CATALYTIC DECISION.
INDIAS MOST RESPECTED AND TRUSTED PM HAVE FOR THE UMPTEEN TIMES PRONOUNCED RATIONALIZING THE DIESEL PRICES SO EXPECT IT TO HAPPEN A CATALYTIC ACTION WITHIN NEXT 72 HOURS


This was expected that a Government that have no long term vision or policy make flip flop over the likely action that they intend to make to curtail the fiscal deficit. All the captains of the government speak about intended action of fuel price hike while knowing very well that their decision making strength have been punctured by the recent invasion of rape on India on unprecedented level and sick of watching daily the same news. In view of the government is likely to be on the verge of collapse in that how does one expect them to take any action that is good for the country but not for their existence. In any case, the government is earning heftily from various types of taxes by one hand paying it back by another hand by way of under recoveries. It is a drama played and scripted by the congress to show that they care for the aam admi and do all back door activities in the petroleum sector especially OMC AND UNDER RECOVERIES BY KEEPING ITS PAYMENT AND QUANTUM OF SUBSIDY UNCERTAIN AS A RESULT INSIDER TRADING IS RAMPANT FOR THE PEOPLE CLOSE TO THE COTERIE OF DECISION MAKING.


At the moment the government ALTHOUGH LACKS COURAGE WILL FINALLY ACT WHICH IS IN THE INTEREST OF COUNTRY AT THE RISK OF THEIR EXISTENCE.
Posted by:Nitin N Varia - 07 Jan, 2013
2: PM says petro products prices are less in India than rest of the world but purchasing capacity of Indians is alas 8 times less than that of rest of the world. Motor fuels in India are more than the average prices in rest of the world. He says we are dependent on oil now and remain so for many years to come. Who is making us slaves of oil exporting rich nations we ourselves and our policy makers. We should use solar , raw coal and induction in place lpg and sko . We must develop railway and use it on war footing . Every drop of motor fuels should be used efficiently.
Posted by:alok - 07 Jan, 2013