India raises diesel prices and opens aviation to foreign investment

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Finally, some action from the Indian government. It has raised its heavily subsidised diesel prices by more than 12% in a bid to cut the budget deficit and remove the threat of being downgraded to junk status by ratings agencies. But truckers, not surprisingly, are furious. They plan to strike and have increased freight prices by 15%. Meanwhile, the government has also opened up foreign investment into its struggling aviation sector. Is India starting to turn?