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Govt committed to bring oil & gas under GST: PM

New Delhi: Prime Minister Narendra Modi on Wednesday said his government is committed to bring natural gas under the ambit of goods and services tax (GST).

“We are trying to eliminate the cascading effect of different taxes on natural gas across different states.

“We are committed to bring natural gas under GST regime,” Mr Modi said.

This step is likely to cut the cost of the energy products by reducing the burden of what is called tax-on-tax.

Mr Modi said that uniformity of tax will lead to reduction of cost of natural gas and increase in its usage across industries.

The prime minister was addressing the laying of foundation stone of oil and gas projects in Tamil Nadu.

Mr Modi said that India is importing over 85 per cent of oil and 53 per cent of gas to meet the demand in 2019-20, and asked, “Can a diverse and talented nation like ours be so energy import dependent?”.

“Now, it is our collective duty to work towards clean and green sources of energy, reduce energy dependence,” he said.

He also blamed the current rise in oil and gas prices on policies pursued previously.

“I do not want to criticise anyone but I want to say: Had we focused on these subjects much earlier, our middle class would not be burdened,” he said, adding that “Our Government is sensitive to the concerns of the middle class.”

 

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