The second in line were the common men who cheered when the petrol prices were slashed from Thursday midnight. While the prices reduced by INR 2.46/ litre in Delhi and INR 3.10/litre in Mumbai and in various other parts of the country, it varied in a similar range. Even though the estranged UPA ally Mamata Bannerjee scoffed at the move saying the government should have reduced it by more than INR 10 given that the international crude prices have fallen considerably, the common man welcomed and cheered the move across the country. However, whether Singh takes any decision on LPG and kerosene prices is a matter of speculation at the moment.
Singh has also indicated that there may be some relief in the entry load charged by the mutual fund distributors to the investors. The finance ministry has asked SEBI to look into the matter and consider whether the same can be implemented without putting the fund houses under too much pressure.
If start is any indicator of the reign, then Singh has already raised the hopes for the country’s turnaround. However, a lot is yet to be done to put Indian economy back on track. Till then all eyes stay glued to PMO’s office.
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