Govt may have to look at diesel decontrol: Basu

NEW DELHI: The government's chief economic advisor Kaushik Basu on Wednesday once again revived the issue of diesel price deregulation against the backdrop of soaring global crude oil prices. Speaking at a global conference of bankers and economists, Basu said the government may have to confront the issue of deregulating diesel prices if global crude prices continued to rise and remained high for a long time. Reserve Bank of India Deputy Governor Subir Gokarn also expressed concern over rising crude and commodity prices and said they posed a risk to the central bank's efforts to control prices which have started moderating.  "It (inflation) is moving downwards... it is a reflection of our monetary actions. But the risk of it turning around because of energy and food remains," Gokarn told reporters