Deora welcomes union budget, justifies fuel price hike - Hindustan Times

Another UPA ally DMK today demanded an immediate rollback of fuel price hike, saying it would have a 'cascading effect' on food prices at a time when the Centre and states were 'grappling with high food inflation.' The budgetary proposal has already sparked a demand for a rollback from the Trinamool Congress, led by Mamata Banerjee.

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Minister of Petroleum and Natural Gas Murli Deora on Friday welcomed the budget and also justified the fuel price increase by the restoration of basic customs duty and increased excise duty. In a statement after Finance Minister Pranab Mukherjee presented the union budget before parliament, Deora said that the current average price of the Indian basket of crude was around $70 per barrel - much less than the average price of $120 per barrel in June 2008.

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