New Delhi: Union Petroleum Minister Dharmendra Pradhan on Monday asked for inclusion of natural gas and aviation turbine fuel (ATF) in the goods and services tax (GST).
Key petroleum products, including petrol, diesel, crude oil, natural gas and ATF, were kept out of the GST regime due to the revenue dependence of state governments in this sector. Addressing India Energy Forum by CERA Week in Delhi, Pradhan said, “I make a strong appeal to finance minister to take this up in the GST Council and at least make a beginning by including natural gas and ATF in GST.”
Amar Nath, the joint secretary in charge of exploration at the Ministry of Petroleum and Natural Gas said to boost domestic natural gas production, India is looking for more investment from the private sector. The government had asked state-run Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to invite for private partnership to boost production in 66 blocks.
“The bids for these 66 blocks are set to be closed by the end of December. At present, 95 per cent of production by national oil companies is coming from 60-odd blocks. This is going to change soon,” Nath added.
14/10/19 Shine Jacob/Business Standard
To Read the News in full at Source, Click the Headline
Key petroleum products, including petrol, diesel, crude oil, natural gas and ATF, were kept out of the GST regime due to the revenue dependence of state governments in this sector. Addressing India Energy Forum by CERA Week in Delhi, Pradhan said, “I make a strong appeal to finance minister to take this up in the GST Council and at least make a beginning by including natural gas and ATF in GST.”
Amar Nath, the joint secretary in charge of exploration at the Ministry of Petroleum and Natural Gas said to boost domestic natural gas production, India is looking for more investment from the private sector. The government had asked state-run Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to invite for private partnership to boost production in 66 blocks.
“The bids for these 66 blocks are set to be closed by the end of December. At present, 95 per cent of production by national oil companies is coming from 60-odd blocks. This is going to change soon,” Nath added.
14/10/19 Shine Jacob/Business Standard
0 comments:
Post a Comment