2024-06-12 21:48:30
New Delhi: The central authorities will attempt to deliver fuels like petrol, diesel and pure fuel beneath the ambit of products and repair tax. That is what Union Petroleum and Pure Gasoline Minister Hardeep Singh Puri mentioned. He once more took cost of the identical ministry on Tuesday.
Makes an attempt to usher in GST
In a dialog with our associate ETNow, Hardeep Singh Puri mentioned that the central authorities will attempt to deliver petrol, diesel and pure fuel beneath the ambit of Items and Companies Tax (GST). This isn’t the primary time that Puri has careworn on bringing petrol and diesel beneath the ambit of GST. Even Finance Minister Nirmala Sitharaman had mentioned in November final yr that implementing it could profit the individuals. Nevertheless, Puri had earlier cited that states must conform to deliver petrol and diesel beneath GST, for which gas and alcohol are main income mills.
Not in favor of promoting oil PSUs
He additionally mentioned that he’s not in favor of promoting the stake of presidency oil corporations within the new time period of the Modi authorities. It’s noteworthy that this authorities had canceled the disinvestment technique of Bharat Petroleum Company Restricted (BPCL) within the yr 2022 as a result of just one bidder was left within the fray for it. After the minister’s remarks, the shares of BPCL, HPCL and IOCL rose for a short while. By 1:20 pm, BPCL, HPCL and IOCL have been buying and selling with positive factors of about 0.5 per cent, 0.8 per cent and 1.1 per cent respectively.
There can be 20% mixing
He reiterated that the federal government was capable of exceed the 15 per cent mixing of ethanol in petrol and the 20 per cent goal could be achieved by subsequent yr. “As , the Prime Minister had set a goal of 20% mixing by 2030…Based mostly on what I’ve seen and the work in progress, I’m assured that the 20% mixing goal can be achieved by 2025,” he mentioned.