Diesel prices to be upped in a staggered manner: Eco Survey
The Economic Survey for 2010-11 has proposed that increase in diesel prices be staggered over time to minimize the impact on the poorer sections of the society. This is contrary to the government's policy to make prices of diesel and petrol market determined.
February 25, 2011 / 17:05 IST
The Economic Survey for 2010-11 has proposed that increase in diesel prices be staggered over time to minimize the impact on the poorer sections of the society. This is contrary to the government's policy to make prices of diesel and petrol market determined.
"It has also been decided that in case of a high rise and volatility in international oil prices, Government will suitably intervene in the pricing of petrol and diesel," the Survey said.It reaffirmed the government's commitment to making cooking fuels available to the common man at affordable prices, and hence the need to continue with subsidies on kerosene and domestic liquefied petroleum gas (LPG), the Government has decided that the subsidies on these products will be continued."However, in order to reduce the burden of under-recoveries, it has been decided to increase the retail price of public distribution system (PDS) Kerosene by Rs 3 per litre and of domestic LPG by Rs 35 per cylinder, at Delhi, with corresponding increases in other parts of the country. Prices of petrol and diesel, both at the refinery gate and retail level, will be market determined," the Survey said. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
