With regard to gross refining magind, the outlook is modest as capacity addition is expected to exceed to refined products demand growth.
Bommai, also the state’s representative in the GST Council, said the issue of including fuel or liquor under GST was not brought to the GST Council or proposed to the states so far.
The activitsts led by IYC president Srinivas staged a protest at the organisation’s headquarters over the hike in prices of petrol, diesel and cooking gas.
States like Maharashtra should reduce taxes on fuel to give relief to people, says Union Minister Dharmendra Pradhan
The Union Finance Minister has already clearly stated why the Centre was not reducing taxes on fuel, he added.
Fada said that fuel consumption which has almost recovered from the lows of the pandemic is once again witnessing headwinds due to historic price hikes.
He cited a news report claiming that petroleum minister Dharmendra Pradhan stated that in the last 7 years, LPG rates have doubled and tax collection on petrol and diesel has risen by 459 per cent.
Earlier today, both Houses of Parliament were adjourned till 2 pm on Tuesday following continued ruckus by the Opposition over the rise of fuel prices.
With Centre relaxing borrowing norms, budget outlay will be slightly higher than last year’s: CM
The Finance Minister felt that a tax cut on fuel prices should be a joint call of Centre and states.
Bhartiya Mazdoor Sangh, affiliated to the BJP, did not participate in the strike. The shops also remained open as the merchants’ associations stayed away from the protest.
TDS president Mukkawar Sunil said that before the lockdown, there were around 1.25 lakh app-based cab drivers in the State.
Prices of LPG, petrol and diesel have been repeatedly hiked in the country. Opposition parties held protests in different parts of the country over the rise of prices of diesel and petrol.
Taking to Twitter, the Congress leader commented that the Modi government's pitch is full of high inflation for the common people.
India is 85 per cent dependent on imports to meet its oil needs and so retail rates are linked to international prices.
Soaring fuel prices have left the transport industry in the lurch.