Deregulation of petrol and diesel prices as well as low oil prices which helped reduced the cooking gas subsidy reduced the overall subsidy burden as a proportion of GDP
A CNBC-TV18 exclusive reveals that the finance ministry is finally ready to bite the bullet and is considering duty cuts on crude and fuel products. A new subsidy-sharing formula may also be unveiled.
PN Vijay, Portfolio Manager, www.askpnvijay.com opines on CBNC-TV18, his outlook of the market and the effect of the election results on the bourses. He sees the election result being a positive for the Congress and says that, for the markets, elections are only an event and not a trend.