Not against petrol, diesel: Nitin Gadkari
India should find a substitute for fuel imports which is cost-effective, pollution free and indigenous, Gadkari says.
India should find a substitute for fuel imports which is cost-effective, pollution free and indigenous, Gadkari says.
The intent of the Central government even as the GST was implemented was that eventually at some time, petrol and diesel could be brought under GST.
Notably, diesel and aviation turbine fuel will remain unaffected and maintain a zero windfall tax rate
In the first six months of 2024, the country's oil demand is projected to expand by an average of around 250 thousand barrels per day year-on-year.
Reduced petrol and diesel prices will benefit the citizens through more disposable income, says government
India has a chance to catch up with the front-runners such as China, says report
It may be noted that the WPI based inflation in May 2023 contracted 3.48% year-on-year compared with 0.92% contraction in April 2023.
India's windfall tax on exports of locally-produced oil has helped reduce the state-owned refining and marketing companies' marketing losses, says Moody's.
The tax rates are revised every fortnight based on prevailing international rates.
On July 1 this year, the Indian government joined a group of nations that imposed a windfall tax on crude oil owing to soaring energy prices.