Cut inflated govt bills, set example

Union finance minister Pranab Mukherjee, in an impassioned speech winding up the debate on the Finance Bill in Parliament, appealed for suggestions on how to cut down the huge subsidy outgo in compensating the oil marketing companies for selling petrol, diesel, kerosene and LPG below cost price. He mentioned that the Centre and the states would have to take a haircut. This is imperative as the taxes imposed are almost as high as the cost of refining, according to the figures he gave in Parliament.

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