A ministerial panel to look into raising prices of diesel and kitchen fuels may meet this week, farm minister Sharad Pawar said on Monday.
In June 2010, the government allowed state-run oil firms to fix the price of petrol but continued to control the prices of diesel, kerosene and cooking gas to protect the poor and try to tame stubbornly high inflation.
Pawar also said a decision would soon be taken on raising local purchase price of summer-sown crops and on allowing further exports of cotton.
The country has revised downwards its cotton output estimates for 2010/11 by more than 5%, due to untimely rain, dimming chances of exports topping the currently permitted 5.5 million bales.
The Indian cotton year runs from October to September. One bale is equal to 170 kg.