Planning Commission today said the decision of oil marketing companies to raise petrol price by Rs 3.14 per litre is good news and will provide credibility to the economic reforms process. "What has happened (fuel price hike)... on that front it is a good news. I regard that as a vindication...(and) an increase in credibility of basic part of the reforms strategy," Planning Commission Deputy Chairman Montek Singh Ahluwalia told reporters here. State-owned oil companies, including IndianOil, Bharat Petroleum and Hindustan Petroleum, yesterday hiked petrol price citing impact of depreciating value of rupee against dollar on import of crude oil. After the hike, petrol price increased to Rs 66.84 per litre in Delhi. This is the second hike in four months. Oil companies had last increased petrol price by Rs 5 per litre on May 15 this year.
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1 comment:
It is good news only for Montek Singh and all govt./PSU babus who get either unlimited quantity of petrol or are reimbursed to the extent of cost certain litres of petrol. What montek shold keep in mind while issuing statement is how the hike affects the lives of millions of common people of the country.
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