Twitter

Facebook

Youtube

Pintrest

RSS

Hindi News | Samay | UP/Uttarakhand | MP/Chhattisgarh | Bihar/Jharkhand | Rajasthan | Aalami Samay
No roll-back in diesel prices: Moily
Last Updated : 19 Jan 2013 07:34:19 PM IST
Veerappa Moily
File photo of India's Oil Minister M Veerappa Moily.
 

Ruling out roll-back of the "small" 45 paisa increase in diesel prices, Oil Minister M Veerappa Moily on Saturday said bulk consumers like Railways will have to find their own budget to buy the fuel at market price.


"No, no, there is no question of roll back," Moily, who is here to attend the Congress brainstorming session, told reporters.

The government had two days back raised diesel prices after a gap of four months by a marginal 45 paisa per liter for retail users like car and truck owners and hiked the rate for bulk users like defence and Railways by about Rs 10, to cut subsidy bill.

After including local sales tax or VAT, price of diesel for retail users went up by 50 paisa to Rs Rs 47.65 a litre in Delhi.

Bulk users, which consumer around 17.77 per cent of the total diesel sales in the country, will pay Rs 56.88 a litre in Delhi.

The government has refused to call its January 17 decision deregulation even though it has permitted oil companies to raise diesel prices by the same quantum from time to time till the over Rs 9 per litre loss on the fuel is wiped out.

No roll-back of increase in diesel prices: Veerappa Moily

Moily said diesel and petrol had been deregulated by the BJP-led NDA government in 2002, but the UPA government had continues to subsidise diesel, the nation's most consumed fuel.

"This (deregulation) has been going on even during the days of NDA," he said. "(There were demands that) there should be deregulation of diesel and this is the only commodity where we have the regulations."

Asked about the impact of the decision on Railways, Moily said it will "largely" have no impact as bulk buyers purchase other inputs and fuels at commercial rates.

"They are all running commercially and ultimately they have to find their own budget," he said.

Railways buy 2.428 million tonnes of diesel annually and will have to shell out Rs 2,727 crore more for buying the fuel at market price. State transport undertakings would have to shell out an additional Rs 2,462 crore for buying 2.192 million tonnes of diesel at market price.

Defence, the third largest bulk buyer, would pay an additional Rs 299 crore for purchase of their annual 267,000 tonnes of diesel.
 


Post Your Comment (0 posted):
Post your comment Post Your Comments
Your name :
Your e-mail address :
Your website :
Add your comments :
Please enter the code you see in the image:
Code

super luxury car maker Rolls-Royce is gearing up to tap the country's Billionaires with ne

Coming-of-age drama 'Boyhood' won three of the biggest awards at the BAFTA 2015 but it was

Sunny Leone is seen scorching the screen in the first look of Leela with her bold acts.

Samsung unveiled the Galaxy S6 and Galaxy S6 Edge at Mobile World Congress in Barcelona, S

Reality TV star Kim Kardashian reportedly wants Beyonce to buy a house in her gated commun

Automaker Renault India today said it will roll-out a multi-purpose vehicle 'Lodgy' and a

Indian cricket captain Mahendra Singh Dhoni is busy with the ICC Cricket World Cup while h

Elizabeth "Betty" McIntosh, an American spy girl who was stationed in India for a few yea

iPhone maker Apple has emerged as the largest 4G LTE device vendor in India.


Samay Live

Samay Live

 

Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live
Samay Live

10.10.70.52