IGX seeks inclusion of petroleum products in GST, gas sector reforms to boost consumption
In the upcoming Budget, Indian Gas Exchange (IGX) expects announcements related to the inclusion of petroleum products under the ambit of the goods and service tax (GST) and reforms to boost natural gas consumption in the country, MD & CEO Rajesh Mediratta told Moneycontrol in an interview.
Finance Minister Nirmala Sitharaman is set to present the first budget under the newly-elected NDA-government for the financial year 2024-25 (FY25) on July 23. The Finance Minister had presented the interim budget for FY25 on February 1 ahead of the Lok Sabha elections.
“The most important ask is inclusion of petroleum products in GST. Normally, GST is not part of the budget, because this goes to the GST council. But if there is even some announcement that when they (the government) will do this or if they will consider it, that would also be a big positive,” said Mediratta.
To be sure, any decision on GST is taken by the GST Council, a joint forum of the Centre and the states. But a recommendation in the Budget by the Finance Minister, who heads the Council, can be a big positive.
