Govt can't discontinue 50p monthly hike in diesel price: EC

Posing a tricky situation for the government, the Election Commission today said it cannot discontinue with the monthly 50 paise hike in diesel prices till the completion of the poll process.
"If the oil companies have taken a policy decision with a very clear objective that if they increase price every month by 50 paise or more than that, we have no objection to that. But if it is suddenly discontinued without any reasonable ground or reasonable argument then it is definitely a big question mark," said Election Commissioner Harishankar Brahma.
In an interview to 'CNBC TV18', he clarified that the Election Commission will not come in way of any decision, but the government and the Reserve Bank will need to keep it informed.

On whether the oil companies can halt the monthly increase of 50 paise a litre, Brahma said in case it happens election commission will look into the matter.
"Election commission will definitely look into the matter very closely and scrutinise why increasing was done earlier and why they have stopped raising now because it will be a question mark in the minds of our people," he said.
Replying to a specific question on changes in import duty on gold, he said "it can definitely be deferred till elections are over".

On issuance of new bank licences by the RBI, the Election Commissioner said "personally, I don't see any ground or visualise any objection to issuances of licences by RBI to our banking infrastructure".

However, he added, if RBI thinks that it require any no objection certificate (NOC) or clearance from election commission, "they are welcome".
"I don't think election commission will ever have a doubt or even have a point of objection for their opening of new banking institutions which is required for our country, which is definitely a welcome step," he added.
The model code of conduct has come into play with announcement of general elections.