India fails to shield consumers
A pressed Indian government raised petrol and diesel prices by 10 per cent on June 4, curbing losses to its state-owned refiners but stoking inflation and risking a political backlash. Petrol and diesel prices are now dearer by Rs 5 and Rs 3 a litre, while the price of an lpg cylinder has gone up by Rs 50. The hike triggered protests across the country, with communist and opposition parties demanding a rollback. It is also feared to increase the inflation rate by 0.5 or 0.6 per cent. But the government says the move was
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