The central government’s policy of blending petrol with ethanol was formulated in 2000. “It was then decided to blend petrol with up to 5% of ethanol, and the target was to be achieved in the next four years.
India imported a record 4.83 million barrels per day (bpd) of oil in September as several refiners resumed operations after extensive maintenance to meet rising local fuel demand.
Jammu and Kashmir is set to bring petrol, electricity, liquor and real estate under the ambit of the Goods and Services Tax (GST), making it the first Indian state to take this step, reports Mint.
Private players such as Reliance Industries and Essar owned by Russia’s Rosneft have tripled the number of petrol and diesel outlets in India in the last two years
Uttarakhand Finance Minister Prakash Pant announced on Wednesday that the state government has decided to cut the cess and Value Added Tax on fuel by 2% each, ANI reported.
Import of oil drilling rigs has been exempted from the Goods and Services Tax (GST) levy to give a boost to domestic exploration and production, the government said today.
The Himachal government today decided to reduce VAT on petrol and diesel by 1 per cent to provide relief to people.
Petrol will be cheaper by Rs2 and diesel by Re1 per litre across Maharashtra from Tuesday midnight after the state government reduced the value-added tax (VAT) on the fuels.
In a big move, Centre has decided to ask state governments to cut the value-added tax (VAT) on fuel in order to provide further relief to consumers.
Union Road Transport and Highways Minister Nitin Gadkari on Saturday hinted that automobile industry could continue exports of petrol and diesel cars even as government will go ahead with its plan to transition India to all-electric mobility by 2030.