In partnership with :

kkumar kkumar 109434 Points
I saw this story on the Citizenside and thought you should see it

Director Banerjee speaks on petrol price hikes

News Indore, India - 24 May 2012

The Director General of the Confederation of Indian Industry, Chandrajit Banerjee, released a statement on May 24, 2012, regarding the recent petrol price hikes. The price hikes have caused a stirring of anger amongst many Indians.

Statement on Petrol Price Hike

by Mr Chandrajit Banerjee, Director General, CII

Rationalization of petroleum prices is one of the most important reforms that industry has been advocating and it has been high on CII's agenda. The current under recoveries in diesel and LPG requires immediate action to ensure that dual pricing of diesel pricing is introduced, where non farm use of diesel should have minimum subsidy.

Also the huge subsidy on urban use of LPG should be phased out. The increase in price of petrol is quite steep and would not resolve the issue of ballooning fuel subsidy. CII would urge the government to address the subsidies in diesel and LPG urgently. Kerosene being a poor man's fuel should continue to get the government support for the time being.

Confederation of Indian Industry


Related images
Australian voters will head to the polls on Saturday, July 2 for the federal election, which will fill all 226 seats in the... Read story
Attacks in Brussels today left 30 people dead and hundreds wounded. Will your town be holding a vigil for the victims? If... Read story
Super Tuesday is here! If you are going to the polls to vote today, share your videos with us to help our coverage of the... Read story
Junior doctors will be going on strike today throughout England for the first time in 40 years. Will you be attending the... Read story
Brave swimmers gathered today for the annual Redcar Boxing Day dip on December 26, 2015 at 11 am. Were you there? Please... Read story