Ummid Assistant

Direct link to MH-CET 2012 results:

Welcome Guest! You are here: Home Business & Economy

Finance ministry advisor suggests small diesel price decontrol

Wednesday June 13, 2012 08:31:11 AM, IANS

Bangalore: The finance ministry's Chief Economic Advisor, Kaushik Basu Tuesday favoured decontrol of diesel price in a small and intelligent way to insulate the country from spiralling global crude prices.

"We cannot decontrol diesel at full swing at this point of time because price jump will be very large. But a controlled intelligent decontrol is possible. I am still hopeful that will happen," Basu told reporters on the margins of a function here.

Asserting that small steps towards decontrol could be taken, Basu said they (steps) would enable people to learn that diesel was a commodity, which at times would be expensive and other times cheaper.

"A price is a signal to millions of consumers that we have a lot less now than we can have. But if we hold diesel price completely and constantly, you are switching off an important signal. People have to realise that if global prices go up and if you shelter them by holding this (decontrol) up constantly, other prices will rise," Basu noted.

Cautioning the people that if global crude prices continue to go up, there would be no scope for shelter, the government's top economist said if diesel becomes expensive, consumers could buy less and when cheaper, they could buy more.

"Once global prices go up, there will be no shelter from holding up the diesel price," Basu said after delivering the Fourth Raj Bhavan Dr V.K.R.V. Rao Memorial Lecture' in the presence of Karnataka Governor H.R. Bhardwaj and a select gathering.






Home | Top of the Page


Note: By posting your comments here you agree to the terms and conditions of

Comments powered by DISQUS






Top Stories

US exempts India from Iran oil sanctions

Besides India, the US has added Malaysia, South Korea, South Africa, Sri Lanka, Turkey and Taiwan to the exemption list, leaving China and Singapore, the top two buyers of Iranian crude, still exposed 

India decides to cut Iran crude imports by 11 percent

Time to say goodbye to US domination: Iran official


  Most Read

Mulayam endorses Ramdev campaign on black money

Samajwadi Party (SP) chief Mulayam Singh Yadav Tuesday said he backed yoga guru Ramdev's campaign to bring back black money stashed in foreign banks. Ramdev, who has been lobbying 

Reselling the India story: road shows kick off in the Gulf

Road shows highlighting India's growth potential to attract sovereign funds and other investors kicks off in five Gulf countries of Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain and Oman Sunday. The marketing campaign takes off at a time when the India growth story has taken a beating 


  News Pick

Mamata to meet Sonia on presidential polls Wednesday

West Bengal Chief Minister Mamata Banerjee will meet Congress president Sonia Gandhi in New Delhi Wednesday regarding the upcoming presidential 

A President of India cannot come through 'reservation'

Congress top brass meets, presidential nominee likely next week

Joshi vs Modi: No clear winner in tangled BJP web

The two pracharaks - or preachers of the Hindu nationalist RSS' worldview - have never been the best of friends. However, if Modi has had the last laugh - as of now - in this mutual game of oneupmanship  

George W. Bush voted most unpopular former US president

George W. Bush has been voted the most unpopular living former president of the US. Bush - born July 6, 1946 - was the 43rd president of the US from 2001 to 2009. According to a CNN poll, just 43 percent of people questioned 

More IITs may go against common entrance test

IIT Delhi and IIT Bombay are likely to emulate Indian Institute of Technology (IIT) Kanpur which has decided to hold its own entrance test after rejecting HRD Minister Kapil Sibal's 'one nation, one test' 

IIT Kanpur revolts, to hold separate entrance exam


Picture of the Day

The model of the Shaikh Zayed Grand Mosque presented to the Shaikh Zayed Bin Sultan Al Nahyan Centre for Arabic Language and Islamic Studies in Beijing by the Shaikh Zayed Grand Mosque Centre. The 1:150 scale model is made of acrylic.

(Photo: Gulf News)



RSS  |  Contact us


| Quick links



Subscribe to

Ummid Assistant



Science & Technology



About us




Government Schemes










Contact us




    Disclaimer | Terms of Use | Advertise with us | Link Exchange is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2012 Awaz Multimedia & Publications. All rights reserved.