Reports have said that that the central government is likely to hike diesel prices after Prez Polls on July 19.
The decision will be taken by the government to fill the loss faced by them to cut the amount of money it pays out to keep prices lower.
Talking to media, a source without revealing his name said, “This has been the thinking for quite some time that a price rise could come after Presidential polls.” Read more
Avoiding impact of wide protest against hike fuel prices, Prime Minister’s Economic Advisory Council Chairman C Rangarajan demanded quick implementation of hike in prices of diesel and LPG cooking gas, in wake to cover all necessary fiscal deficit at 5.1 percent of the GDP during 2012-13.
Mandatory for government expenditures, Rangarajan said, “There is a need to raise the prices because the fiscal deficit can be contained only if we act on cutting subsidies and the most important element in subsidies is the petroleum subsidy. Therefore, there is a need for action with respect to the prices of diesel and LPG.” Read more
Top five telecom honchos met the top ministers of the government including Telecom Minister Kapil Sibal also, to concern the Trai’s auction proposals, but being disappointed with no results, they decided to step up with a possible 100 per cent hike in mobile tariffs.
Their step is a warning for the government as if the recommendations of Telecom Regulatory Authority of India (Trai) are implemented; then there will be definite 100% hike in tariffs, instead of 30 %. Read more
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