With the new tax regime not in place in many states, people are shelling out more money for the petroleum products in such areas due to the levy of Value Added Tax (VAT) and other cess.
Oil Minister Dharmendra Prashan met his Mozambique counterpart and agreed to expedite the project, in which Indian companies have invested $6.5 billion
According to Reddy, fiscal deficit that, otherwise, would have been caused by “losses” due to GST implementation and demonetisation was offset by the revenue that it got by levying extra taxes on petrol and diesel.
India continues to lack a clear roadmap for encouraging the use of clean fuel
In Delhi-NCR, IGL supplies CNG to the transport sector, Piped Natural Gas (PNG) to the domestic and commercial sectors and R-LNG to industrial establishments with the backing of GAIL (India) Ltd and BPCL.
Maharashtra was among the states that had previously shot down the suggestion of lowering VAT on petrol and diesel and had contended that the state’s exchequer would not be able to bear the loss.
In what will help India adopt a better mechanism for price discovery of both domestic as well as imported gas, the petroleum ministry will seek the Union Cabinet’s approval for a domestic gas trading hub. Stating this on Tuesday, petroleum minister Dharmendra Pradhan also said his ministry was in the process of creating an internal […]
Global oil firms interested to invest $1 trillion in the country in next five years.
“We urge states to take responsibility just like the centre did, in direction of consumer interest. If states slash VAT (on fuel) by 5%, consumers will get more relief,” said Dharmendra Pradhan.
In a Sept 13 meeting to assess progress on curbing tampering of meters, the ministry pulled up OMCs for keeping its executives out of the ambit of the punishments for any wrongdoing.
“After the Modi government came to power, growth rate has decreased, industrialisation has decreased, unemployment has increased and inflation has shot up,” said the party, which is a constituent of the National Democratic Alliance NDA at Centre.
When asked over the possibility of reduction in taxes on petroleum products to curb the fuel prices, Pradhan said taxes can’t be slashed as funds are necessary for infrastructure development and welfare schemes.
The AAP on Wednesday urged Petroleum and Natural Gas Minister Dharmendra Pradhan to direct oil companies to link petrol and diesel prices to the international market and pass on the “huge profits” being made by them to the public. The Delhi Minister Gopal Rai said in a memorandum to Pradhan that “The mandate of the […]
Nearly 30 candidates had applied for the ONGC top job in May and the PESB shortlisted nine, none from the private sector.
Pradhan said prices of refinery oil went up because the production of oil dropped by 13 per cent in the US due to floods. On being asked about margin of the oil companies, he said they are being run by the government.