The Planning Commission today said that, decontrolling fuel prices would not flare up inflation rather it will soften the generalized rise in prices.Speaking to reporters in New Delhi, Planning Commission Deputy Chairman Montek Singh Ahulwalia said, he thinks that it is not sustainable to have prices those are not in line with global prices.Ahluwalia said that by keeping the price of petroleum down is actually bearing a subsidy that causes a generalised rise in price.He said that if we get rid of the subsidy there will be rise in petroleum prices but it will soften the generalised rise in prices. Ahluwalia said that freeing fuel price is there in the integrated energy policy. He said that he agreed with the recommendation of the Kirit Parikh committee.Earlier on Wednesday, an expert group, headed by former Planning Commission member Kirit Parikh, suggested freeing of fuel prices.
News On AIR | February 5, 2010 1:51 PM
Decontrolling fuel prices would not flare up inflation rather it will soften the generalized rise in price: Montek ahlluwalia