ET:Govt should be ready to pass on crude price burden: adviser
NEW DELHI: The Indian government should be ready to pass on higher global crude oil prices to domestic consumers, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said on Wednesday.
India raised diesel prices about 9 percent last Friday, after months of delay, and also cut customs duty on crude and petrol products and reduced excise duty on diesel, which will result in a total revenue loss to the government of about 490 billion rupees this year.
