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Soon Rs. 3-5 hike in Diesel
Posted on: 30/Aug/2013 5:03:45 PM
Petroleum Minister M Veerapa Moily had a discussion with the finance Minister P Chidambaram to consider all the possible options before increasing the diesel price to Rs.3- 5. The government has plans to raise the amount of oil imports from Iran as we pay in Indian currency to them. Crude oil increase and rupee depreciation both have happened together increasing the under recoveries and subsidy burden.
Moily says “We are all worried about rupee depreciation. All of us should all do our best to reduce the tension on the economy. We are discussing how we can conserve energy and reduce fuel consumption,”
Further added, “We have to ensure that we help the finance ministry to reduce the current account deficit (CAD).”
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