Thankfully, the Narendra Modi govt has taken advantage of the recent respite in oil prices and inflation to now end price controls on diesel:
http://online.wsj.com/articles/india-frees-diesel-prices-from-government-control-1413648469
A return to market control over fuel prices will remove a huge deficit contributor, and create an impetus for more efficiency in fuel markets. Modi needs to keep up the momentum, so that he can continue to draw in capital inflows into the country, and fuel even faster growth. Economic growth is likely to be above 5% for this year, but we can do better - India has to, if it's going to throw off the legacy of Nehruvian basketcasery.
http://www.ft.com/cms/s/0/d76eb78e-53a3-11e4-929b-00144feab7de.html#axzz3GXtSCHwV
http://www.dailymail.co.uk/indiahome/article-2798582/disequilibrium-reforms-skills-jobs-essential-kick-start-india-s-economy.html
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