Montek - Let customers pay!

Rising crude oil prices if not passed on to consumer will kill the domestic oil producers says Planning Commission Deputy Chairman Montek Singh Ahluwalia.

Speaking at the sidelines of the employment summit organised by CII, Ahluwalia said, "Rising crude oil prices is a much serious problem, which is not sustainable. The only sustainable policy is, while protecting the needs of the really poor, if you do not pass on high crude oil prices to the consumers you will kill your oil producers. And that is what happening presently".

When asked, whether the possible recession in the US economy will affect India’s growth prospects, Ahluwalia said, "The real issue is, what happens to the global economy ? A short term slow down in the world economy will not affect our medium term growth prospects".

Ahluwalia further said the Union Cabinet will take up the skill development mission in early December.

"This will be an inter-ministerial mission, which will lay out the agenda for skill development in the country", he said. He also hinted that the group may be headed by Prime Minister Manmohan Singh.

The cabinet will take up 11th Plan draft document in the meeting expected to be held on Monday (November 26), Ahluwalia said.