The move to hike the prices of fuel at this critical juncture will only
help to add fuel to fire although the need is paramount . The sentiments
are negative and what ever may be the justification, such a move will
not be easily acceptable as it may add to inflation and inflation
expectations. It would be ideal for the Government to defer this move
till such time the rupee stabilizes and the price of Crude Oil in
international market also settles down from its present volatility. It
may be tough for the Govt to defer the decision, but it will help to
improve the sagging sentiments a little which is also essential to
stabilize the markets.
(This comment is in response to the news report fuel hike in the offing in Business line dated 31/8/13)
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