The Kirit Parikh Committee on Wednesday 3 February proposes raising LPG rates by Rs 100 a cylinder, while petrol may be expensive by Rs 4.72 a litre and kerosene by Rs 6 per litre.
The Kirit Parikh Committee also pointed the losses of state-run oil marketing companies at Rs.40,000 crore because of selling the transport fuels at below cost. And thus explained that" There is no way we can continue with the current pricing policy,"
The recommendations made by Kirit Parikh Committee may not be acceptable because of the high Inflation. There might be a consensus between ministries of finance and petroleum on freeing petrol prices.
The Petroleum Minister Murli Deora said that the report will be processed and will be put in before the government or the Cabinet in a week.
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