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Will petrol-diesel become cheaper? As soon as the government was formed, the petroleum minister made a big talk, know

Petroleum Minister Hardeep Singh Puri has made a big announcement as Narendra Modi government 3.0 is formed. He says that this time the government will make all efforts to bring products like petrol, diesel and natural gas under the ambit of GST. Know what else Hardeep Singh Puri said...
1 Month ago

After the Lok Sabha elections in the country, a new NDA government 'Modi 3.0' has been formed under the leadership of Prime Minister Narendra Modi. Apart from this, ministries have also been divided among 72 ministers. Hardeep Singh Puri has once again been given the charge of the Ministry of Petroleum and Natural Gas and has made a big announcement as soon as he takes charge.

Union Minister Hardeep Singh Puri says that this time the central government will try to bring goods like petrol, diesel and natural gas under the purview of Goods and Services Tax (GST). It will give great relief to common people.

There have been attempts before

This attempt to bring fuels like petrol and diesel under the ambit of GST is not new. Efforts for this have been going on since the implementation of the GST system and the subsequent formation of the GST Council. The matter has been brought up in almost every meeting of the GST Council. But there is no agreement between the states regarding this yet.

VAT on petrol and diesel is a major source of revenue for the state government. In such a situation, state governments do not want to face loss of revenue due to petrol and diesel coming under GST. Apart from this, states also get huge revenue from tax on liquor.

However, Finance Minister Nirmala Sitharaman had said in November last year that bringing petrol and diesel under the ambit of GST would benefit consumers the most. Whereas, people across the country will not have to pay different prices for it.

Aim for a 20% ethanol mixture

Along with bringing petrol and diesel under the ambit of GST, Petroleum Minister Hardeep Singh Puri said that the government had aimed to add 20 percent ethanol in petrol by 2030, but now it is expected to be completed by next year i.e. 2025. There is hope. He also said that the government is not in favor of selling stake in petroleum sector PSUs.

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