"Though the proposed price hike of diesel is quite steep but SIAM would really support the rationalising of price hike," Society of Indian Automobile Manufacturers said in a statement.
It, however, insisted that the rationalisation process has to be done in a manner that should not affect consumers adversely.
"It may affect the sales of vehicles for a short term but the elimination of price distortion will help the industry and economy in the
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EXPLAINED: Kelkar committee report on Indian economy