Pranab quashes hopes of aam-aadmi; no roll back in fuel hike

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Pranab Mukherjee
Washington, Jun 29: Quashing all hopes of a rollback in fuel hikes, Finance Minister Pranab Mukherjee made the comment to this effect recently. He also added that the decision to cut duties would not impact the fiscal deficit of the government.

He was quoted as saying, “No. No question of revoking." The government had announced yet another steep hike in fuel prices; diesel prices went up by Rs 3 per litre, domestic LPG by Rs 50 per cylinder and kerosene by Rs 2 per litre. He was replying to reporters who inquired if there were any chances of a part withdrawal in the hike in diesel, LPG and kerosene.

Pranab Mukherjee is presently in the US taking part in the 'US-India Economic and Financial Partnership' jointly organised by the Confederation of Indian Industry (CII) and Brookings Institute.

After the aam-aadmi had to bear the brunt of the hike in fuel prices, the Finance Minister had suggested the states to reduce the state cess for diesel and LPG so that the public could avoid being further burdened. Many states had no option but to concede to avoid the wrath of the public.

The government had reduced the excise and customs duties on crude oil and other goods thereby incurring a revenue loss of Rs 49,000 crore.

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