Diesel price must be hiked by Rs 4 immediately: Kirit Parikh panel

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Kirit Parikh Committee recommended that the existing trade parity pricing be continued until diesel price is market based. Kirit Parikh Committee recommended that the existing trade parity pricing be continued until diesel price is market based.
SummaryThe panel has favoured continuing the existing pricing principles for controlled petroleum products.

year during the next three years. Thereafter, the price of domestic LPG should be decontrolled,” it said.

It also prescribed that the limit of subsidised cylinders be reduced from nine to six and restricted to families below the poverty line through the Aadhar-based direct benefits transfer scheme.

Group’s Recommendations

Trade parity pricing formula for diesel be retained with an increase in its retail price by Rs 4 per litre “immediately” and the remaining subsidy recovered from consumers through a monthly price hike of Re 1 per litre One-fourth of the LPG subsidy should be passed on by increasing the price of subsidised domestic LPG before March 2014 and the balance passed on at 25% in each year during the next three years

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