ATF prices climb to record high after 5.2% hike
The Hindu
on February 16 soared to record high levels across the country after rates were increased by 5.2% in line with a rise in international oil prices.
This is the fourth hike in jet fuel or (ATF) prices in less than two months following a spike in global oil prices but petrol and diesel prices remained unchanged for a record 103rd day in a row, coinciding with electioneering to elect new governments in States like Uttar Pradesh and Punjab.
ATF price was hiked by ₹4,481.63 per kilolitre or 5.2% to ₹90,519.79 per kl in the national capital, according to a price notification of State-owned fuel retailers.
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The Union Budget unveiled on February 1, 2025, has come at a time of unprecedented global uncertainty and a flagging domestic economy. The real GDP growth is estimated at 6.4% for 2024-25 and between 6.3-6.8% for 2025-26, a far cry from >8 percent growth required annually to make India a developed nation by 2047. While much attention has been devoted to the demand stimulus through income tax cuts, not enough is said about the proposed reforms in urban development, tariff rationalisation, and regulatory simplification aimed at making Indian cities and corporates more competitive. Since the majority of economic activity is located in cities (urban areas account for ~55% of GDP) and produced by large corporates (~40% of the national output and 55% of India’s exports), the above-mentioned reforms have a pivotal role in improving India’s trend growth rate. Below we unpack each reform.
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