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Who all will the natural gas price hike hit?

UPA govt bit the bullet and raised gas prices. And that is extremely bad news for people.

In a move that hopes to boost exploration and investor sentiment,the UPA government Thursday approved an increase in the price of natural gas effective from April 2014,in line with a complex pricing formula suggested by the Rangarajan Committee.

Here are the people who will suffer the consequences of the govt’s actions:

* The hike would directly impact over 21 lakh households using piped natural gas

* More than 17 lakh vehicles running on CNG

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* It would also jeopardize the economic competitiveness of more than 1,000 small and medium enterprise sectors

* The blow would be higher for 119 million farmers who would have to pay 65 per cent more for urea — from Rs 5,360 per tonne to Rs 8,892 per tonne.

First published on: 28-06-2013 at 15:19 IST
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