Congress-led UPA govt may rethink monthly diesel price hikes after disastrous poll verdicts: Nomura

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"Undoubtedly, Govt has shown strong resolve and has persisted with monthly diesel hikes since Jan 2013". PTI
SummaryDiesel price hikes may be dumped as Congress party looks to burnish its pro-people image.

Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) lost Rs 60,907 crore on sale of diesel, LPG and kerosene in the first half of current fiscal.

The total under-recoveries on diesel and cooking fuel in full fiscal could be around Rs 147,500 crore.

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