Economy Sep 14, 2012
In a politically-sensitive move, the government Thursday announced a hike in heavily-subsidised diesel price by Rs 5 a litre to check fiscal deficit and limited availability of cooking gas cylinders per family to six per year. The hikes come into effect midnight Thursday.
The Cabinet Committee on Political Affairs (CCPA), chaired by Prime Minister Manmohan Singh, took the decision, which has been decried by a combative opposition and even allies as "anti-people".
Following are the revised diesel prices in four metros after government announced a steep hike in rates.
(All rates in Rs/litre)
UPA's second-largest constituent, Trinamool Congress, demanded a rollback, with party chief Mamata Banerjee saying she would have been very happy if she could have withdrawn support from the regime rather than be party to such "anti-people" policy.
The steep hike in diesel prices is expected to affect a wide gamut of transportation ranging from locomotives to heavy duty trucks.
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