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Cpi(M) Rejects Govt Explanation For Oil Price Hike

The CPI(M) yesterday said the argument that the government had to incur a lot of subsidies to maintain the present level of prices of petroleum products did not hold good. It criticised the government for mishandling the oil sector to bridge the fiscal deficit. In its bid to block a hike in prices of petroleum products, the CPI(M) released a paper titled Oil Pool Deficit or Cesspool of Deceit. The paper, authored by politburo member Sitaram Yechury, argues that there are other ways to bridge the oil pool deficit rather than going in for a hike. A copy of the paper was sent to ...