NDA to phase out subsidy on petro products by 2002 — Naik

NAGPUR, APRIL 3: Union Petroleum Minister Ram Naik has said the National Democratic Alliance (NDA) Government is determined to phase out s...

NAGPUR, APRIL 3: Union Petroleum Minister Ram Naik has said the National Democratic Alliance (NDA) Government is determined to phase out subsidy on all petroleum products by 2002 by delinking the subsidy from international crude oil prices.

Talking to newsmen here on Sunday night, Naik said there would be no rollback in kerosene and cooking gas prices despite the expected fall in crude prices following the decision of the Organisation of Petroleum Exporting Countries (OPEC) to increase their crude output.

He explained that cut in subsidy of petrol prices was made as the Government was keen on wiping out the huge deficit of Rs 6,000 crore in the oil put account. When asked about the discordant note within the NDA on the issue of price rise in petroleum products, he said the objections had more to do with politics and less with ground realities.

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He disclosed that Prime Minister Atal Behari Vajpayee had discussed the issue with the Telegu Desam Party (TDP) chief and Andhra Pradesh Chief Minister Chandrababu Naidu and hence the hue and cry made by leader of TDP Parliamentary leader Yerran Naidu was unwarranted.

Earlier Naik addressed a function to mark the first death anniversary of BJP leader Prabhakar Datke.

rime Minister Narendra Modi addresses the gathering during the inauguration of the PM MITRA Park and foundation stone laying ceremony of development works, in Dhar, Madhya Pradesh. (@NarendraModi via PTI Photo)

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