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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.

IMF favours removing energy subsidies to tackle climate change

Emphasising that climate change must be high on the priority list for all nations, the IMF has called for getting the pricing right and removing subsidies on energies that amounts to nearly USD 485 billion.

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.