April 12, 2012. India will raise retail prices of subsidised fuels, including diesel, once parliament approves the finance bill for the current fiscal year. Parliament is expected to consider the finance bill on May 7 and approve it a couple of days after that. Finance Minister Pranab Mukherjee has vowed to raise fuel prices as soon as possible to tackle a rising subsidy burden and large deficits, but the move is politically fraught for the weak coalition government, already under fire over high inflation.