PM hints at an increase in petrol prices

New Delhi, May 23: Prime Minister Manmohan Singh today hinted at the possibility of an increase in petrol price, saying it was no longer possible to subsidise energy consumption.

''Despite the enormous pressure of high international oil prices, we have moderated its inflationary impact. However, we can not continue to subsidise energy consumption on this scale,'' he said speaking at the second anniversary celebrations of the UPA Government.

''We will ensure and maintain fiscal discpline and manage our resources with care,'' the Prime Minister said. ''No Government can spend its way to prosperity,'' he added.

The Prime Minister said the Government would have to manage finances with wisdom and foresight to sustain and increase the growth rate and find resources to support the poor.

UNI