With Lok Sabha elections less than a year away and crude oil prices hovering way above India’s comfort zone, minister for petroleum and natural gas Dharmendra Pradhan is in the hot seat. In an exclusive interview with Senior Editor Shweta Punj, he reiterates that India is pushing for reasonable oil pricing with oil-producing nations, negotiating with the states to bring down taxes and pushing the GST Council to bring fuel under GST.
Q. Is the government thinking of bringing fuel under GST?
In principle, petroleum products should come under GST. GST is paid on petroleum industry input in refinery, exploration. But we don’t get input subsidy because our end-use product is not under the GST mechanism. That’s why, in a way, the industry too takes a hit. For price and tax rationality and fiscal stability of the sector, it is in the industry’s favour if the entire value chain—from production to the marketing network—comes under GST. We are requesting the GST Council to do that. The states were apprehensive initially about bringing petroleum under GST, they were worried about revenues. Seeing the progress in implementation of GST, we believe it will happen very soon. The rate will be decided by the GST Council. It should come to a rational model, that’s my priority.
Q. There is a furore over high fuel prices. What will the government’s strategy be?
هذه القصة مأخوذة من طبعة June 18, 2018 من India Today.
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هذه القصة مأخوذة من طبعة June 18, 2018 من India Today.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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