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Steps to curb fuel consumption from 16th September
Posted on: 07/Sep/2013 11:09:17 AM
Foreign Minister Salman Khurshid said that the Central Government might announce steps to curb fuel consumption on September 16 in a bid to cut the biggest item in the country’s import bill and help support a rupee skittering just above record lows.India is the fourth-biggest energy user in the world. It is expected that the Government would announce a steep hike in diesel prices soon, as it looks to cut oil costs by nearly $20 billion (12.8 billion pounds). Rising global prices of crude and the rupee’s slide have left India facing an oil bill potentially 50 percent higher than on May 1.
Foreign Minister Salman Khurshid in an interview to a TV channel said, “No matter what happens, we will have to cut down on fuel consumption. You can’t keep subsiding costs of fuel and not restrict the use of the fuel.”
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