They just might bust your budget before The Budget

PTI | February 4, 2010



The government on Thursday said it may decide before the beginning of the Budget session of parliament on the Kirit Parikh Panel recommendations of freeing the oil prices and increasing the rates of kerosene and cooking fuel.

"By next week, the ministry will be able to offer its comments on the recommendations and it will then go to the Cabinet," Oil Minister Murli Deora told reporters here.

Asked by when the Cabinet is expected to take a decision, he said it will be very soon,"may be before the Budget itself."

A Prime Minister-appointed expert group, headed by economist Kirit Parikh, suggested on Wednesday freeing petrol and diesel prices and suggested raising LPG rates by a steep Rs 100 per cylinder and kerosene by Rs 6 a litre.

Deregulation of auto fuel prices would result in a hike of Rs 4.72 a litre in petrol prices and diesel rates by Rs 2.33 per litre.

Earlier in the day, Deora's deputy Jitin Prasada hinted that the government may not accept the report in totality and would protect the common man's interest.

"The Government will ensure that least burden is passed on to the poor and common man... while also ensuring that the financial health of (PSU fuel retailers) is protected," Minister of State for Petroleum and Natural Gas Jitin Prasada said here.

State-owned Indian Oil, Bharat Petroleum and Hindustan Petroleum currently lose Rs 180 crore per day on selling petrol, diesel, LPG and kerosene below the imported cost. In full-fiscal, they are estimated to lose Rs 46,030 crore.

Comments

 

Other News

Gripping graphic narrative helps make sense of pandemics past

The Moral Contagion By Julia Hauser and Sarnath Banerjee HarperCollins, 140 pages, Rs 699 The world has lar

“Globally, there is unprecedented positivity for India”

Addressing the Viksit Bharat Viksit Uttar Pradesh program in Lucknow on Monday, prime minister Narendra Modi launched 14,000 projects across the state, worth more than Rs 10 lakh crore at the fourth groundbreaking ceremony of UP Global Investors Summit held in February 2023. The projects relate to sectors

World’s biggest bird-a-thon begins in India

During the four days from Feb 16, more than a thousand birdwatchers throughout India are coming together with the goal of documenting as many birds as possible across the country’s diverse locations. Over one lakh birdwatchers globally participate in the annual Great Backyard Bird Coun

Comments sought on Draft Guidelines for Prevention of Misleading Advt in Coaching Sector

The Central Consumer Protection Authority has sought public comments on the ‘Draft Guidelines for Prevention of Misleading Advertisement in Coaching Sector’. The draft guidelines are placed on the website of the Department of Consumer Affairs and are accessible through the link:

Electoral bond scheme unconstitutional: Supreme Court

In a landmark judgment, the Supreme Court of India has held the anonymous, unregulated and unlimited funding through electoral bonds and companies as unconstitutional. The five-judge Constitution Bench of the Supreme Court comprising chief justice DY Chandrachud and justices Sanjiv Khanna, B

Interim Budget and frontier technology: Sab ka Vikas, Sab ki Technology

The world is at the cusp of a revolution based on Industry 4.0 and green technologies, including AI, big data, IoT, EVs, solar power, etc., which offer developing countries the opportunity to leapfrog into economic prosperity. However, India’s gross expenditure on R&D (GERD) still stands at a mea

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter