Hike in fuel prices affects more than just car and bike owners: RBI Governor

RBI Governor Shaktikanta Das delivered a keynote address on the 185th anniversary of the Bombay Chamber of Commerce and Industry’s foundation day, and he said the hike in fuel prices has affected more than just car and bike owners.

“Diesel and petrol prices do have an impact on the cost side. They play as cost-push factors across a range of activities. It’s not just that passengers who use cars and bikes. High fuel prices also have an impact on the cost of manufacturing, transportation, and other aspects”, he said in the meeting.

He also asked the Centre to coordinate efforts and reduce prices for fuel in the meeting. “We do realise that states and Centre have their revenue pressures and require high sums of money to enable the country and the people to come out of COVID-19 stress.”

He also mentioned the highs in the digital sectors during the lockdown. He said, “With 1.2 billion wireless subscribers and 750 million internet subscribers, India is the second-largest and one of the fastest growing digital markets.”

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