The Ministry's proposal to the Cabinet Committee on Political Affairs, the body empowered to take a decision on fuel prices, was based on recommendation of the Vijay Kelkar Committee, which was appointed by the Finance Ministry to suggest a roadmap for fiscal consolidation.
“Recommendation is the Kelkar Committee are under serious consideration,” Moily said.
When repeatedly asked if his ministry has moved a Cabinet note for raising fuel prices, he said the Kelkar Committee recommendations “are under serious consideration.”
The panel had recommended an immediate hike in price of diesel by Rs 4 per litre, of kerosene by Rs 2 a litre and of LPG by Rs 50 per cylinder. Thereafter, it suggested raising rates on a monthly basis till the revenue losses are wiped off.
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