"This would provide space for fiscal and monetary policy to act in tandem to achieve the growth and inflation objectives in 2012 13 that otherwise appear to be at cross purposes," it said.
While petrol prices are market linked, the government decides the rates of LPG, kerosene and diesel, which usually results in a large budgetary expenditure on subsidies.
The RBI said that the imports bill will remain high unless prices of petroleum products are raised for a complete pass through and demand for precious metals is curbed.
putting pressure on the country's fiscal deficit, which has touched 5.9 per cent of GDP last fiscal and 5.1 per cent in 2012 13.
"This would provide Rolex Yachtmaster space for fiscal and monetary policy to act in tandem to achieve the growth and inflation objectives in 2012 13 that otherwise appear to be at cross purposes," it said.
barrel last month.
Crude oil prices have been rising due to geo political reasons, including the Iran situation. The prices had touched a high of $125 a Burberry Clutch Wallet Price
High subsidies are Burberry Heart Crossbody Bag
The government targets to bring down the subsidy bill to below 2 per cent of GDP this fiscal and 1.75 per cent in the subsequent years. The government has made a provision of Rs 40,000 crore (Rs 400 billion) towards fuel subsidy.
on deregulation and the upward adjustment of oil prices by letting the demand effects work towards diminishing fiscal and external risks," the RBI said in its Macroeconomic and Monetary Developments in 2011 12.
RBI for hiking prices of petroleum products
"The policy design to achieve macro objectives hinges Burberry Bag Womens
Making a case for increasing prices of petroleum products and deregulating diesel prices, the Reserve Bank on Monday said these steps are necessary to contain fiscal slippages and arrest decline in growth.
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