“Decontrol prices for all POL (petroleum and oil) products by linking the pricing directly to international oil prices,” said the RBI annual report.
The RBI report said, “any fiscal measure to moderate the impact of high oil prices over a sustained period could drag the fiscal position to unsustainable level.Delivering subsidies as a cash outgo instead of through oil bonds, could be the first step towards promoting energy security,” RBI said
Published 27 August 2009, 16:51 IST