New Delhi: Immediately after Finance Minister Arun Jaitley presented the Union Budget in the Parliament on Thursday, minister for petroleum and natural gas, Dharmendra Pradhan said petro products will be part of goods and services tax (GST) soon.
"Once GST settles down, petro products to become part of GST. GST will be a logical platform for petroleum products. Petro products under GST will help rationalise prices," said Pradhan.
Talking about the petroleum ministry's flagship Ujjwala Yojana, Jaitley in his budget speech said, "We launched Prime Minister's Ujjwala Scheme to make poor women free from the smoke of wood. Initially. our target was to provide free LPG connections to about 5 crore poor women. But in view of the pace of implementation of Ujjwala scheme and its popularity among the women, we propose to increase the target of providing free connection to 8 crore poor women."
Thanking the prime minister Pradhan said, "Thankful to prime minister and FM for enhancing Ujjwala targets. The program has successfully completed its target in 1.5 years. Confident we will complete this new target meant for the women in rural India."
The last budget had also talked about integration of all public sector oil firms to create a mega merger for keeping Indian oil needs in the global space.
"Integration is order of the day we need to do some more integration in oil sector," said Pradhan.
Talking about indirect taxes associated with fuel and sky rocketing oil prices in the country, Pradhan said, "Last September, Govt reduced excise duty. We have asked states to reduce VAT."
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