The recent Rs 3 hike in petrol and diesel prices, announced after the Prime Minister's national exhortation for austerity, was widely anticipated, according to a research report by Systematix. It stated that the hike is almost "certainly the beginning of a series of hikes, not the end of one."
The report warned that "WPI inflation crossing the 10% mark is not a tail risk; it is a plausible and near-term base case."
