Union Cabinet deregulates diesel price

NEW DELHI: The Union Cabinet on Saturday decided to deregulate price of diesel, linking it to global market prices. As a result, diesel price will be cut by Rs 3.37 per litre effective midnight tonight in Delhi. The reduction would vary in other states depending on the state taxes. The Cabinet also approved new gas price formula to be applicable from November 1. Finance minsiter Arun Jaitley announced Cabinet's decision to relaunch the direct benefit transfer scheme in more effective manner.   TOI