Congress in no mood to roll back fuel price hike

The Congress-led United Progressive Alliance is in no mood to immediately roll back the increase in prices of petroleum products announced by Finance Minister Pranab Mukherjee in the Union Budget 2010-11.

 

The Congress core committee met to discuss the issue of the increase in prices and protest by some UPA partners against the move in New Delhi on Tuesday with sources telling that the party will study the impact of price hike.

 

Sources also told that the Congress is of the view that there is an economic compulsion to increase prices of petrol and diesel.

 

But the final decision could well rest with Congress President and UPA Chairperson Sonia Gandhi.

 

While Prime Minister Manmohan Singh and Mukherjee are in support of the increase many other Congress leaders are against the move.

 

The increase could be reduced later if there was any adverse impact on food prices.

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