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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
Thursday, Jul 17
11:30 Average Earnings Excluding Bonus (3Mo/Yr) 2 5.0% 4.9% 5.3% Revised from 5.2%
11:30 Average Earnings Including Bonus (3Mo/Yr) 2 5.0% 5.0% 5.4% Revised from 5.3%
11:30 Imports (MoM) 1 18,350M 19,448M Revised from 19,469M
11:30 Exports (MoM) 1 24,140M 23,456M Revised from 23,300M
11:30 Trade Balance 1 5,790M 4,008M Revised from 3,831M
18:00 Retail Sales (YoY) 1 3.3%
18:00 Retail Sales ex Autos (MoM) 2 0.3% -0.3%
18:00 Retail Sales Control Group 3 0.4%
18:00 Retail Sales (MoM) 3 0.1% -0.9%
18:00 Initial Jobless Claims 2 235K 227K
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