Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f214644f59a-trace').style.display = (document.getElementById('cakeErr67f214644f59a-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f214644f59a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f214644f59a-code').style.display = (document.getElementById('cakeErr67f214644f59a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f214644f59a-context').style.display = (document.getElementById('cakeErr67f214644f59a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f214644f59a-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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		&#039;title&#039; =&gt; &#039;RBI urges govt to hike diesel, kerosene, LPG prices&#039;,
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-PTI
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&lt;br /&gt;
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&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
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Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
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&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.
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&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.
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&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;
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&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.
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&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
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Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.
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&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
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CAD is the difference between inflow and outflow of foreign exchange into the country.
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&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
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In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.
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		&#039;credit_writer&#039; =&gt; &#039;The Business Standard, 17 April, 2012, http://www.business-standard.com/india/news/rbi-urges-govt-to-hike-diesel-kerosene-lpg-prices/163129/on&#039;,
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-PTI





While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-PTI&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;CAD is the difference between inflow and outflow of foreign exchange into the country.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.&lt;/div&gt;&#039;,
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	&#039;id&#039; =&gt; (int) 14368,
	&#039;title&#039; =&gt; &#039;RBI urges govt to hike diesel, kerosene, LPG prices&#039;,
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	&#039;description&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;
-PTI
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&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
CAD is the difference between inflow and outflow of foreign exchange into the country.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Business Standard, 17 April, 2012, http://www.business-standard.com/india/news/rbi-urges-govt-to-hike-diesel-kerosene-lpg-prices/163129/on&#039;,
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-PTI





While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products...&#039;
$disp = &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-PTI&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;CAD is the difference between inflow and outflow of foreign exchange into the country.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.&lt;/div&gt;&#039;
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While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products..."/>
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                <strong>RBI urges govt to hike diesel, kerosene, LPG prices</strong></h1>
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                <div style="text-align: justify">-PTI</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.</div><div style="text-align: justify">Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">RBI said the Budget estimate of oil subsidy is likely to fall &quot;significantly short of the required amount&quot;.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">High subsidies are putting pressure on the country's fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government's ability to adhere to its commitment of capping subsidies,&quot; Subbarao said.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Subbarao said any slippage in fiscal deficit would have implications for inflation. &quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&quot; he said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India's current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">CAD is the difference between inflow and outflow of foreign exchange into the country.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&quot;.</div>               </font>
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-PTI
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&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;
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Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.
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&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.
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While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.
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Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.
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RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.
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High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.
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The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.
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&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;
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Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.
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Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.
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Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.
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CAD is the difference between inflow and outflow of foreign exchange into the country.
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&lt;br /&gt;
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In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.
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-PTI





While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-PTI&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;CAD is the difference between inflow and outflow of foreign exchange into the country.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.&lt;/div&gt;&#039;,
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	&#039;id&#039; =&gt; (int) 14368,
	&#039;title&#039; =&gt; &#039;RBI urges govt to hike diesel, kerosene, LPG prices&#039;,
	&#039;subheading&#039; =&gt; &#039;&#039;,
	&#039;description&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;
-PTI
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
CAD is the difference between inflow and outflow of foreign exchange into the country.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.
&lt;/div&gt;&#039;,
	&#039;credit_writer&#039; =&gt; &#039;The Business Standard, 17 April, 2012, http://www.business-standard.com/india/news/rbi-urges-govt-to-hike-diesel-kerosene-lpg-prices/163129/on&#039;,
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-PTI





While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products...&#039;
$disp = &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-PTI&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;CAD is the difference between inflow and outflow of foreign exchange into the country.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.&lt;/div&gt;&#039;
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-PTI





While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products..."/>
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                <strong>RBI urges govt to hike diesel, kerosene, LPG prices</strong></h1>
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        <td width="100%" style="font-family:Arial, 'Segoe Script', 'Segoe UI', sans-serif, serif"><font size="3">
                <div style="text-align: justify">-PTI</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.</div><div style="text-align: justify">Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">RBI said the Budget estimate of oil subsidy is likely to fall &quot;significantly short of the required amount&quot;.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">High subsidies are putting pressure on the country's fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government's ability to adhere to its commitment of capping subsidies,&quot; Subbarao said.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Subbarao said any slippage in fiscal deficit would have implications for inflation. &quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&quot; he said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India's current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">CAD is the difference between inflow and outflow of foreign exchange into the country.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&quot;.</div>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f214644f59a-trace').style.display = (document.getElementById('cakeErr67f214644f59a-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f214644f59a-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f214644f59a-code').style.display = (document.getElementById('cakeErr67f214644f59a-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f214644f59a-context').style.display = (document.getElementById('cakeErr67f214644f59a-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f214644f59a-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
</span></span></code>
<span class="code-highlight"><code><span style="color: #000000">&nbsp;&nbsp;&nbsp;&nbsp;&lt;link&nbsp;rel="canonical"&nbsp;href="<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">);&nbsp;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?&gt;&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">category</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">slug</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>/<span style="color: #0000BB">&lt;?php&nbsp;</span><span style="color: #007700">echo&nbsp;</span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-&gt;</span><span style="color: #0000BB">seo_url</span><span style="color: #007700">;&nbsp;</span><span style="color: #0000BB">?&gt;</span>.html"/&gt;
</span></code></span>
<code><span style="color: #000000"><span style="color: #0000BB">&nbsp;&nbsp;&nbsp;&nbsp;</span><span style="color: #007700">&lt;</span><span style="color: #0000BB">meta&nbsp;http</span><span style="color: #007700">-</span><span style="color: #0000BB">equiv</span><span style="color: #007700">=</span><span style="color: #DD0000">"Content-Type"&nbsp;</span><span style="color: #0000BB">content</span><span style="color: #007700">=</span><span style="color: #DD0000">"text/html;&nbsp;charset=utf-8"</span><span style="color: #007700">/&gt;
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-PTI
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&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;
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Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.
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&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.
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While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.
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Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.
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RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.
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High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.
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The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.
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&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;
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Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.
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Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.
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Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.
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-PTI





While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-PTI&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;CAD is the difference between inflow and outflow of foreign exchange into the country.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.&lt;/div&gt;&#039;,
	&#039;lang&#039; =&gt; &#039;English&#039;,
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	&#039;id&#039; =&gt; (int) 14368,
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&lt;br /&gt;
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&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;
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&lt;br /&gt;
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Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
CAD is the difference between inflow and outflow of foreign exchange into the country.
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
&lt;br /&gt;
&lt;/div&gt;
&lt;div style=&quot;text-align: justify&quot;&gt;
In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.
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-PTI





While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products...&#039;
$disp = &#039;&lt;div style=&quot;text-align: justify&quot;&gt;-PTI&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;em&gt;While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies&lt;/em&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&amp;quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;RBI said the Budget estimate of oil subsidy is likely to fall &amp;quot;significantly short of the required amount&amp;quot;.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;High subsidies are putting pressure on the country&#039;s fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&amp;quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government&#039;s ability to adhere to its commitment of capping subsidies,&amp;quot; Subbarao said.&amp;nbsp;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Subbarao said any slippage in fiscal deficit would have implications for inflation. &amp;quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&amp;quot; he said.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India&#039;s current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;CAD is the difference between inflow and outflow of foreign exchange into the country.&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;&lt;br /&gt;&lt;/div&gt;&lt;div style=&quot;text-align: justify&quot;&gt;In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &amp;quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&amp;quot;.&lt;/div&gt;&#039;
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-PTI





While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products..."/>
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                <strong>RBI urges govt to hike diesel, kerosene, LPG prices</strong></h1>
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                <div style="text-align: justify">-PTI</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.</div><div style="text-align: justify">Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">RBI said the Budget estimate of oil subsidy is likely to fall &quot;significantly short of the required amount&quot;.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">High subsidies are putting pressure on the country's fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government's ability to adhere to its commitment of capping subsidies,&quot; Subbarao said.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Subbarao said any slippage in fiscal deficit would have implications for inflation. &quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&quot; he said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India's current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">CAD is the difference between inflow and outflow of foreign exchange into the country.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&quot;.</div>               </font>
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-PTI
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<em>While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies</em>
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Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.
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&quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.
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While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.
</div>
<div style="text-align: justify">
Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.
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RBI said the Budget estimate of oil subsidy is likely to fall &quot;significantly short of the required amount&quot;.
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<br />
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High subsidies are putting pressure on the country's fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.
</div>
<div style="text-align: justify">
<br />
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The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.
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&quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government's ability to adhere to its commitment of capping subsidies,&quot; Subbarao said.&nbsp;
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Subbarao said any slippage in fiscal deficit would have implications for inflation. &quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&quot; he said.
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Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.
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<br />
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Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India's current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.
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In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&quot;.
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-PTI





While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products...',
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-PTI
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
<em>While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies</em>
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
&quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.
</div>
<div style="text-align: justify">
Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
RBI said the Budget estimate of oil subsidy is likely to fall &quot;significantly short of the required amount&quot;.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
High subsidies are putting pressure on the country's fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
&quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government's ability to adhere to its commitment of capping subsidies,&quot; Subbarao said.&nbsp;
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Subbarao said any slippage in fiscal deficit would have implications for inflation. &quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&quot; he said.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India's current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
CAD is the difference between inflow and outflow of foreign exchange into the country.
</div>
<div style="text-align: justify">
<br />
</div>
<div style="text-align: justify">
In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&quot;.
</div>',
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$articleid = (int) 14368
$metaTitle = 'LATEST NEWS UPDATES | RBI urges govt to hike diesel, kerosene, LPG prices'
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-PTI





While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies





Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products...'
$disp = '<div style="text-align: justify">-PTI</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production,&quot; RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies.</div><div style="text-align: justify">Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">RBI said the Budget estimate of oil subsidy is likely to fall &quot;significantly short of the required amount&quot;.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">High subsidies are putting pressure on the country's fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">&quot;...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government's ability to adhere to its commitment of capping subsidies,&quot; Subbarao said.&nbsp;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Subbarao said any slippage in fiscal deficit would have implications for inflation. &quot;Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates,&quot; he said.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India's current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">CAD is the difference between inflow and outflow of foreign exchange into the country.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, &quot;The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks&quot;.</div>'
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RBI urges govt to hike diesel, kerosene, LPG prices

-PTI While petrol prices are market-linked, govt fixes LPG, kerosene and diesel rates, which results in huge expenditure on subsidies Making a case for raising prices of diesel, kerosene and LPG, the Reserve Bank today said hike in rates of petroleum products is necessary to arrest fiscal slippages. "Overall from the perspective of vulnerabilities emerging from the fiscal and current account deficits, it is imperative for macroeconomic stability that administered prices of petroleum products are increased to reflect their true costs of production," RBI Governor D Subbarao said in the Annual Monetary Policy Statement for 2012-13. While petrol prices are market-linked, the government fixes the rates of LPG, kerosene and diesel, which results in a large budgetary expenditure on subsidies. Global crude oil prices have surged since the beginning of 2012 on account of geo-political concerns in the Middle East and abundant global liquidity. The price of Brent crude rose to $120 a barrel in mid-April from $111 in January. RBI said the Budget estimate of oil subsidy is likely to fall "significantly short of the required amount". High subsidies are putting pressure on the country's fiscal deficit, which touched 5.9% of GDP last fiscal and is pegged at 5.1% in 2012-13. India imports about 80% of its crude oil requirement. The government targets to bring down the subsidy bill to below 2% of GDP this fiscal and 1.75% in the subsequent years. Government has made a provision of Rs 40,000 crore towards fuel subsidy for 2012-13. "...Several upside risks to the budgeted fiscal deficit remain. Containment of non-plan expenditure within budget estimates for 2012-13 is contingent upon the government's ability to adhere to its commitment of capping subsidies," Subbarao said.  Subbarao said any slippage in fiscal deficit would have implications for inflation. "Upside risks to inflation persist. These considerations inherently limit the space for further reduction in policy rates," he said. Persistent demand pressure emerging from inadequate steps to contain subsidies, as indicated in the recent Union Budget, will further reduce the space for rate cut, he added. Fuelled by gold demand, crude oil prices and decelerating growth in emerging economies, India's current account deficit (CAD), widened to 4% of GDP in April-December 2011, up from 3.3% a year ago. CAD is the difference between inflow and outflow of foreign exchange into the country. In its Macroeconomic and Monetary Developments in 2011-12 report, the RBI had yesterday said, "The policy design to achieve macro-objectives hinges on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks".