India

India's opposition National Democratic Alliance (NDA) has called for nationwide strikes to protest against the government's recent hike in petrol prices. Indian oil firms on May 23 announced a sharp increase in petrol prices by nearly INR7.50 (US$0.11) in cities such as Delhi and Mumbai. The increase in petrol prices is aimed at offsetting mounting losses due to subsidised rates, rising international oil prices and a depreciating rupee. However, opposition to the move - both inside and outside of the ruling United Progressive Alliance (UPA) - means that we cannot rule out a dilution or reversal of the hike going

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