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BW Businessworld

Govt Has No Immediate Plan To Raise Fuel Prices: Reddy

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India has no immediate plan to raise domestic fuel prices, Oil Minister S. Jaipal Reddy said on 7 September' 2012, adding that it was now up to the cabinet to decide on the thorny issue of reducing hefty subsidies on diesel, LPG and kerosene.
The oil ministry and finance ministry have been pitching hard for a rise in fuel prices, since the subsidies weigh heavily on India's fiscal deficit at a time of slowing growth.