Arab Today, arab today inflation fears as india hikes fuel costs
Last Updated : GMT 07:12:06
Arab Today, arab today
Arab Today, arab today

Move that will add pressure on government

Inflation fears as India hikes fuel costs

Arab Today, arab today

Arab Today, arab today Inflation fears as India hikes fuel costs

Indian government announced a hike in the price of some petroleum products
New Delhi - AFP

Indian government announced a hike in the price of some petroleum products Indians will have to pay more for fuel from Saturday after the government announced a hike in the price of some petroleum products, increasing inflationary pressures in the fast-growing economy .
Petroleum minister Jaipal Reddy late Friday raised the price of diesel by 3 rupees (7 cents) per litre, in a move that will pile added pressure on Prime Minister Manmohan Singh\'s embattled government.
The government also increased the price of kerosene by 2 rupees per litre, and of liquefied petroleum gas (LPG) by 50 rupees per cylinder, in a bid to cut its fuel subsidies and help state-owned oil firms, which currently suffer big losses by selling fuel to consumers at prices far below market rates.
Finance minister Pranab Mukherjee told reporters late Friday that the increase was \"very modest,\" according to the Press Trust of India.
Mukherjee said the government had cut customs and excise duties on crude oil and petroleum products, giving up revenues of 490 billion rupees.
\"I do hope the states will also reduce their VAT (value added tax) so that relief could be given to the consumer,\" he added.
The opposition criticised the price hike. The main opposition Bharatiya Janata Party (BJP) said there would be a cascade effect likely leading to increased inflation.
Annual inflation spiralled to a higher-than-expected 9.06 percent in May from 8.66 percent the previous month, heaping misery on hundreds of millions of India\'s poor.
The increase in the cost of kerosene, which is seen as the \"poor man\'s fuel\" could prove especially damaging for the ruling Congress Party, which counts the rural poor as a key electoral constituency.
Workers from the BJP and the communist parties said they would stage a protest in the capital New Delhi Saturday to protest against the fuel price hikes.
Prime Minister Singh has described inflation as a serious threat to India\'s growth, and his cabinet has been racing to boost vegetable and other supplies to bring down food prices.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today inflation fears as india hikes fuel costs Arab Today, arab today inflation fears as india hikes fuel costs

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Leader Omar Abdel Rahman dies in US prison

GMT 19:00 2017 Sunday ,19 February

Leader Omar Abdel Rahman dies in US prison
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:20 2017 Friday ,17 February

Samsung heir arrested in corruption probe

GMT 10:26 2017 Thursday ,16 February

Dollar, equities stutter in Asia after Trump rally

GMT 08:45 2017 Thursday ,16 February

Hanjin saga reveals S.Korea corporate governance flaws

GMT 09:40 2017 Wednesday ,15 February

Heineken profits drained in 2016 by currency turmoil

GMT 09:10 2017 Tuesday ,14 February

Sharjah Chamber Eyes Strong Economic Ties with Belgium

GMT 08:23 2017 Tuesday ,14 February

Toshiba dives on shock loss-reporting delay

GMT 08:18 2017 Tuesday ,14 February

Banker-financier Mnuchin sworn in as US Treasury chief
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday