Budget Buzz

On the eve of Budget 2005, we walk the pre-budget talk with a look at what8217;s buzzing in key sectors.

First up: oil and gas

8226; Duty revamp: Customs on crude may go down to 5 from 10. Cut expected in excise for LPG and kerosene.

8226; Subsidy rationalisation: LPG, kerosene subsidy to be targeted at the needy by limiting subsidies to lower per-capita households.

WHAT I DON8217;T EXPECT IN BUDGET 2005

8216;8216;Indications on stable pricing mechanism or changes in the price structure of products LPG, kerosene, diesel, petrol.8217;8217;
8212;M.B. LAL, CMD, HPCL

8216;8216;Extending VAT to petroleum products and infrastructure status to the sector.8217;8217;
8212; Sanjay Kaul, Director, Indian School of Petroleum