Delay in oil price hike to increase inflation: ParekhSeptember 12th, 2012 - 10:14 pm ICT by IANS
New Delhi, Sep 12 (IANS) With the union government having deferred a hike in oil prices, Planning Commission member Kirit Parikh Wednesday said failure to revise fuel prices would result in under-recovery amounting to around Rs.200,000 crore this year and would lead to a jump in inflation.
“The government is sitting over the decision of increasing oil process. If government doesn’t revise fuel prices at this stage, this year’s under-recovery would be more likely to be around Rs.200,000 crore,” Parikh told reporters on the sidelines of a function here.
He said this is likely to lead to a jump in inflation during the year.
The government Tuesday decided to defer a decision on oil prices.
- Forced to hike petrol prices, say government, oil firms - Nov 04, 2011
- Decision on fuel prices deferred, CCPA meet postponed - Sep 11, 2012
- No decision on fuel price hike yet, says Deora - Feb 14, 2010
- Government decontrols petrol; hikes diesel, kerosene, LPG (Lead) - Jun 25, 2010
- No government role in petrol price hike: Pranab - Nov 05, 2011
- Petrol prices lowered by Rs.1.85 per litre - Nov 15, 2011
- Ministerial panel may meet next week on fuel price hike - Jun 16, 2010
- Fresh petrol price hike of Rs.1.80 per litre - Nov 03, 2011
- Petrol price cut by Rs.2 a litre (Second Lead) - Jun 02, 2012
- No fuel hike now, will ask more money for oil firms: Deora (Lead) - Feb 01, 2010