NEW DELHI 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
Eighteen village councils in Uttar Pradesh are demanding a local Coca-Cola bottling plant be prohibited from extracting water from the ground, claiming its over usage has led to water scarcity in the area, said an environmental campaign group. Full Article