Indian officials are considering a plan to reallocate as much as INR 1trillion from the budget of various ministries to contain a surge in food and fuel costs without imperilling the federal deficit target. PM Modi will take a decision in coming weeks, which could include lowering taxes on local diesel sales and easing import tariffs on cooking oil and wheat. It would be the second straight year of similar adjustments to contain costs for consumers after the government unveiled a $26 billion plan year. The proposal follow RBI’s rate decision last week where it left borrowing costs unchanged – one of the highest in Asia – flagging risks from soaring prices. (ICE NEW DELHI)

Fonte notizia: India Times