NEW DELHI (Reuters) - India's state-run oil marketing companies have been authorized to raise diesel prices in small increments "over a period of time", Oil Secretary G. C. Chaturvedi said on Thursday, but did not give a time-frame or quantity for such price increases.
Earlier, the government permitted state-run oil marketing companies to set diesel prices, in a surprise move that could help the government reduce its budget-busting subsidy bill.
(Reporting by Nidhi Verma; Writing by Rajesh Kumar Singh; Editing by Frank Jack Daniel)
Trending On Reuters
Nepalese officials scrambled on Monday to get aid from the main airport to people left homeless and hungry by a devastating earthquake two days earlier, while thousands tired of waiting fled the capital Kathmandu for the surrounding plains. Full Article