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Diesel price hike will help reduce fiscal deficit: Ficci

Last Updated: Saturday, January 19, 2013, 19:47

"The spike in inflation (by 6-7 basis points), which is most likely to be observed, would be a short-run phenomenon that would eventually translate into lower fiscal deficit (achieving a target of 5.3 percent of GDP), thus, opening up the option of reduction in subsidy on LPG and kerosene," Ficci President Naina Lal Kidwai said.

Courage and risk needed to get higher growth: PM

Last Updated: Saturday, September 15, 2012, 11:00

Justifying the diesel price hike as an important step in the right direction, he said, rational energy pricing was critical and "our energy prices are out of line with world prices".

Monetary policy: RBI may keep rates steady on Monday

Last Updated: Saturday, September 15, 2012, 10:04

Ending months of perceived policy paralysis, the UPA government finally bit the bullet yesterday and pushed ahead with the boldest reforms fanning speculations over policy rate cuts by RBI when it announces its monetary policy on Monday.