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PM rules out rollback of fuel prices

By The Assam Tribune

On Board PM�s Special Aircraft, March 1 � Prime Minister Manmohan Singh today ruled out any rollback in petrol and diesel prices, saying the economy has the capacity to absorb the increase without triggering inflationary pressure, reports PTI.

�Any increase in prices does hurt some people, but we have to take a long-term view,� he told reporters accompanying him on his way back home from Saudi Arabia.

Singh made it clear that following populist fiscal policies for a long term harms the economy.

�We cannot save people from inflation if we follow all populist fiscal policies. Sooner or later these populist policies if persisted for a long time to come will lead to the erosion of the investment climate,� he said.

The Prime Minister was asked about growing concerns over the recent hike in oil prices and the ripple it may have.

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