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‘India has no plans to review subsidies’

‘India has no plans to review subsidies’
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First Published: Tue, Jul 14 2009. 11 44 AM IST
Updated: Tue, Jul 14 2009. 11 44 AM IST
Mumbai: India has no plans to review subsidies on food, fertilisers and fuel, Namo Narain Meena, a junior finance minister said in a written reply to Parliament on Tuesday.
The government plans to set up an expert panel to advise it on a viable and sustainable system of pricing petroleum products, he added.
In a separate reply, Meena said the sharp decline in the overall inflation rate in 2009 stemmed from a major decline in the fuel group and a lesser decline in the group of manufactured products, accruing from a high statistical base in the corresponding period in 2008.
“Despite this decline, inflation in essential commodities continues to remain high, on account of lower agricultural production in some crops, increase in the minimum suport prices and growth in demand,” he said.
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First Published: Tue, Jul 14 2009. 11 44 AM IST