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IMF applauds India for cutting fuel subsidy

The International Monetary Fund (IMF) had lauded India's efforts to cut fuel subsidies, saying the fall in global crude oil prices provides a golden opportunity to reduce energy subsidies.

Eliminate energy burden, says Montek

Energy subsidy should be eliminated and the total subsidy burden on the government should be brought down to 1.4 percent of the GDP, Planning Commission Deputy Chairman Montek Singh Ahluwalia said Friday.