The Petroleum and Natural Gas Ministry on Thursday once again emphasised the need to cut down the subsidy burden.

Speaking at a workshop organised by IndianOil Corporation, Minister of State for Petroleum and Natural Gas (Independent Charge) Dharmendra Pradhan said the challenge for his Ministry is to bring down the subsidy burden and the import bill.

“We need reforms to bring down the subsidy burden, but the common man has to be kept in mind,” said Pradhan.

Later on Thursday, oil marketing companies are expected to hike diesel prices by ₹0.50 per litre, which would bring down the subsidy on diesel. According to reports, oil marketing companies are also set to bring down petrol prices by around ₹ 1 per litre.

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