Current price regime of Import Parity Price was formulated under - TopicsExpress

Current price regime of Import Parity Price was formulated under NDA Rule in 2002 period replacing old Administered pricing mechanism (APM) for oil industry. IPP has proved to become an extra- burden on govt. Exchequer, because of backdoor APM for finished products for public, which is fixing of petrol diesel price by govt. Hence govt. has become bound to spent thousands of crores on oil subsidies to keep OMCs afloat.

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