Sat Nov 21, 2009 | 11:20
Indian fuel price hike triggers protests
Sat, 07 Jun 2008 14:51:07 GMT
Font size :
The fuel price hike could spark off fresh inflationary trends in the Indian economy.
Nationwide protests, organized by communist parties, against the fuel price increases continue across India, officials and witnesses say.

India imports 70 percent of the oil needed for its fast-growing economy but amid surging crude costs announced hikes of 11 percent and 9.4 percent in petrol and diesel prices respectively based on prices in the capital.

Shops, schools and offices in eastern West Bengal, northeastern Tripura and southern Kerala states shut down. In New Delhi, police turned water cannons on protestors who broke through barricades at the parliament building.

Political activists have called for a day-long shutdown in India's eastern Jharkhand state in protest against the fuel price rise on Saturday.


The shutdown call is aimed at pressurizing India's federal government to roll back the fuel price hike and to rein in the skyrocketing prices of essential commodities. The price hike is likely to spark off fresh inflationary trends in the economy.

India's price rises will increase pressure on its coalition government, led by the Congress Party, which has suffered local election defeats in the run-up to a general election that must be held by next May.

ABZ/GM
Comment
Your Name
Your Comment
Enter the code shown
terms of use

db1
Popular
  • last 24 hours
  • last week
  • last month
© 2009 Press TV. All rights reserved.