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India to raise oil prices for the wealthy |
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Tuesday, 17 June 2008 |
India may ask its affluent classes to pay more for gasoline and diesel fuel if the global crude price increases.
The deputy chairman of India's planning commission, Montek Singh Ahluwalia, said car users, especially those belonging to the affluent classes, should be ready to pay more money for fuel.
He said there is no magic bullet with the government. "If import prices increase, we cannot insulate domestic consumers indefinitely," Ahluwalia told a news channel in an interview.
He said the recent hike in fuel prices was a signal that if energy prices rise further, people had to get ready to pay more. "There is a case for insulating the general consumer ... very little case for insulating the rich. So the fact is, yes, if oil prices keep on rising, the government will have to do something," Ahluwalia said.
The second-in-command at the plan panel said the government did not want to shock the general consumers too much.
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Last Updated ( Tuesday, 17 June 2008 )
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