Decontrol Diesel

Finance minister Pranab Mukherjee has hinted at a higher tax burden on diesel cars to compensate for anomalies in fuel pricing, but such a move would only increase economic distortions. Under-recoveries (the difference between the claimed cost price and realised price) on diesel, by far the most used petroleum product, reportedly add up to more than .`6 per litre. It amounts to a huge subsidy on consumption that's totally unwarranted.

Read Full Story>>