Fuel prices likely to decline soon: Sonia

Petroleum prices are likely to be reduced soon, a step that will help bring down inflation rate further, Congress chief Sonia Gandhi said on Tuesday.

"The prices of petroleum products have decreased recently and I expect that soon they will dip further," she said.

With international crude prices continuing to drop, there is speculation that government may slash petrol prices by Rs 5 per litre.

Gandhi said that despite a steep hike in the prices of international crude oil, "the government kept it under control in the country by extending subsidy of Rs 1 lakh crore".

"I can say without hesitation that no government has been able to achieve what the UPA regime has done in the last five years on all fronts," Gandhi said at the foundation laying ceremony of rail coach factory here.

"When the world was reeling under recession, India was bound to be affected. But the UPA government has been very alert," she said, adding that there has been no reduction in bank loans to small industries, agriculture, rural development and infrastructure sectors.

Thanking railway minister Lalu Prasad for setting up the rail coach factory, Gandhi hoped that in the next rail budget, Prasad would bring more good news for the region.

The Congress president said that the rail coach factory will be a milestone in the development of UP and it would provide employment opportunities to 8,000-10,000 people.

Assuring that the factory would be eco-friendly, she said, "All required measures will be taken to make the unit pollution free. It will be a world-class modern unit and people would not feel any environmental changes once the factory is set up".

The Centre launched schemes and projects keeping in mind all sections of society, she said. "As our main focus is on development, we bring new schemes and projects. This will not only contribute in the development of UP, but the country as a whole," she said.