On Thursday, the government said that it might take a decision on the Parikh Panel suggestions of liberalizing the oil rates and hiking the prices of kerosene and cooking fuel prior to budget.
The oil minister Murli Deora said that the ministry would be in a position to give its comments on the suggestions by coming week, which will then be sent to the cabinet. He was replying to the query on when he expects the cabinet to come to the decision on the issue.
Parikh committee is an expert group appointed by prime minister and is headed by Kirit Parikh. It had recommended liberating petrol and diesel rates and hiking liquid petroleum gas rates by exorbitant price of Rs. 100 for a cylinder and a kerosene by Rs. 6/liter.
Liberalization of car fuel rates would lead to an increase of Rs 4.72/litre in prices of petrol and Rs 2.33/liter in prices of diesel.
Earlier, Deora’s assistant Jitin Prasada implied that the government might not accept the report completely and would take steps to safeguard the interests of common man. He said the government would take care to determine that the minimal burden is passed on to the common man, while safeguarding the fiscal health of government oil companies.
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