The reform measures announced were vitally needed at this point of time and the Assocham fully supports the Union government in its efforts to turn around the economy.
However, the industry chamber admitted that some measures like the revision in diesel prices and the restriction on number of LPG cylinders at subsidized rate can result in higher costs for the households.
“However, subsidized price of an essential fuel could not be borne by the government for all times to come,” said Mr D.S. Rawat, secretary general of the Associated Chambers of Commerce and Industry of India (Assocham).
“The fiscal situation has deteriorated and the rising fuel subsidy burden is one of the major causes for that,” said Mr Rawat. “Unless some corrective measures were taken the long-term impact of such policies could be massive, it is good that the government has taken a decision to stand firm on the reform measures.”
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