Industry body Assocham today backed the Centre's decision to hike diesel price and allow FDI in multi-brand retail.It said the initiatives were much needed and the Centre could not all the time subsidise prices of fuel.The industry body said in a statement that the reform measures announced are vitally needed at this point of time and Assocham fully supports the Union government in its efforts to turn around the economy.Admitting that revision of diesel prices or restriction of LPG cylinders per household to six would result in price rise and higher costs for households, Assocham Secretary General D S Rawat said, subsidized price of an essential fuel cannot be borne by the government for all times to come. He added that unless some corrective measures are taken, the long-term impact of such policies will be massive.