Deregulate diesel prices as soon as possible: Montek
Thursday, 30 December 2010, 06:03 IST
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Chandigarh: Planning Commission Deputy Chairman Montek Singh Ahluwalia today pitched for deregulation of diesel prices amid flak faced by the government over high food prices. Observing that the government needed to invest in development of oil supplies, Ahluwalia favoured linking diesel rates with global prices in view of mounting losses of state- owned oil firms, . "I think diesel prices need to be aligned with global prices as soon as possible...(raise in diesel) Prices cannot be delayed from what is happening in global world...delayed by a week or by two weeks (not a solution)," Ahluwalia said." He was speaking on the sidelines of 93rd annual conference of Indian Economic Situation held at Punjab University. Asked if hike in diesel rates would raise fuel inflation, Ahluwalia said further subsidising oil prices would result in high fiscal deficit.
Source: PTI
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