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No more subsidies; diesel prices to be mkt-driven: Mayaram

Arvind Mayaram also expressed confidence that the government’s subsiidy burden is expected to fall drastically.

Finance secretary Arvind Mayaram today said that the government will be able to wipe out diesel subsidy completely. Speaking at an event organized by industry-body ASSOCHAM, Mayaram said that oil marketing companies will soon not incur any losses in the sale of diesel and diesel prices will be market driven.

He added that easing crude prices will help wipe out diesel under-recovery very soon. CNBC-TV18 had reported two days back that the Centre is expecting diesel prices to be in sync with market prices by the end of October.

Mayaram also expressed confidence that the government’s subsiidy burden is expected to fall drastically.

On the tax front, Mayaram is also upbeat of achievement growth rate of near 6 perce nt this fiscal, he also expects the government to achieve its tax collection targets.

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