Diesel hike to cost Rs 2,700 cr more a year for Railways
New Delhi: The diesel price hike has put an additional burden of around Rs 2,700 crore a year on the cash-strapped Railways, a senior official said on Friday. "We have to pay Rs 10.80 per litre more now as the bulk price of diesel has gone up," said the Railway Ministry official, adding, "The fuel bill will be about Rs 2,700 crore more per year due the latest hike."
The government had on Thursday allowed state-run oil majors to fix diesel prices on their own in order to reduce an expanding subsidy bill and budget deficit. Oil companies announced a dual price mechanism while hiking the rates. While the retail consumer will be paying 50 paisa more per litre, for bulk consumers the hike is more than Rs 10 per litre.
RBI Chief Raghuram Rajan stated that more economic data is needed to be confident that economic growth is picking up, although he added that the benefits to exports from the Rupee's fall is yet to kick in.
Date 11-12-13, Duration 2:19, Views 37