Oil and gas pricing to be reviewed: AIADMK manifesto

The party also promised to change the oil and gas pricing mechanism and withdraw the "authority given to oil marketing companies to determine the prices of petrol and diesel".

"Action will be taken to determine the direct two-way exchange rate between the currency of different countries and the Indian rupee, i.e. a currency swap arrangement will be put in place," it said.

"A separate fund will be established to insulate and hedge the impact of variations of exchange rate on the price of petroleum products and thereby protect the common public from adverse price shocks," the party said.

According to AIADMK, action will be taken to maintain the price level of oil and domestic gas while the number of subsidised gas cylinders would be increased. The party also said it would ensure fair prices for natural resources.

The party also promised to take action to modify the coal mining policy to ensure that State Public Enterprises are able to obtain coal at lower prices and at the same time the revenue to the central government is increased.