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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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