In a mix of populist and reform measures, Government on Thursday (January 17) raised the cap on supply ofsubsidised cooking gas (LPG) to nine cylinders per household from six and virtually deregulated diesel prices allowing "small" hikes over a period of time. Diesel prices in all probability may be hiked by Rs 1.50-2.0 per litre in the first instance that can be as early as tonight following the decision taken by the Cabinet Committee on Political Affairs (CCPA) headed by Prime Minister Manmohan Singh. The CCPA however left LPG and kerosene prices unchanged. "The CCPA considered the issue of raising the cap from six to nine and the CCPA has agreed and raised the cap from six cylinders (per household in a year) to nine," Oil Minister M Veerappa Moily told reporters here.
TIMES NOW's Editor-in-Chief Arnab Goswami asks tough questions to Veerappa Moily, Union Minister Petroleum & Natural Gas, on urban middle class bear the economic burden of a pre election year.