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Monday, June 7, 2010

Fuel prices must be increased - Ahluwalia

"For six months I have been saying we should; I haven't changed my mind," Montek Singh Ahluwalia, deputy chairman of the Planning Commission, told reporters when asked if the time was right to increase fuel prices.

A panel of ministers, including Ahluwalia, will later on Monday debate the political hot potato of reviewing the way it prices motor and cooking fuel prices, seeking a way to improve its financial health even as it tries to shield its 1.2 billion citizens from high inflation.

India's April annual wholesale price inflation was at 9.59 percent.

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Economic Event Calendar

GMT+5:30 Event Vol. Actual Consensus Previous
Wednesday, Apr 16
19:15 BoC Monetary Policy Statement 3
19:15 BoC Monetary Policy Report 3
19:30 NAHB Housing Market Index 1 40 37 39
20:00 EIA Crude Oil Stocks Change 1 0.515M 0.400M 2.553M
20:00 BoC Press Conference 3
21:30 Fed's Hammack speech 2
22:30 20-Year Bond Auction 1 4.632%
23:00 Fed's Chair Powell speech 3
Thursday, Apr 17
01:30 Total Net TIC Flows 1 $-48.8B
01:30 Net Long-Term TIC Flows 1 $35.2B $-45.2B
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