Downgrade sword hangs, diesel prices may rise Rs 5/l
One-time hike after Prez poll may be followed by deregulation road map
Keen to prevent a downgrade of India’s sovereign rating by Standard & Poor’s (S&P), which could trigger an exodus of foreign investors, Prime Minister Manmohan Singh has told the Congress party there is no option but to raise diesel prices by at least Rs 5 a litre after the Presidential election. The current diesel subsidy is Rs 9.13 per litre sold.
Publication Date:
12/07/2012