State Bank of India (SBI) chairman Pratip Chaudhuri said on Friday though the diesel price hike of R5 a litre will ?hurt? the economy, there was no other recourse left with the government. Chaudhuri said even the RBI governor had supported the government?s move saying that by not increasing fuel prices the oil companies were being made to lose money ?very heavily? which was to the tune of R24,000 crore in the last quarter.
Diesel price hike painful, but govt had no choice: Chaudhuri
State Bank of India chairman Pratip Chaudhuri said on Friday though the diesel price hike of Rs.5 a litre will ?hurt? the economy, there was no other recourse left with the government.
This article was first uploaded on September fifteen, twenty twelve, at twenty minutes past one in the night.