Minister slams ‘simplistic’ narrative on prices, cites provision for welfare schemes.
Reiterating that the excise duty levied on petroleum products is funding free COVID-19 vaccines and public weal schemes, Petroleum and Natural Gas Minister Hardeep Puri said on Friday that global canvas prices would probably fall by the time India vaccinates its entire population, indicating no duty cuts may be anticipated at that time.
Facing multiple queries about the high retail prices for energies at the ending press conference of India Energy Forum by CERAWeek,Mr. Puri said the Centre has been charging ₹ 32 as excise per litre, irrespective of whether the canvas price was$ 19 a barrel or$ 84 a barrel, whereas States charge an announcement valorem duty Stressing that canvas prices had risen following the global coal extremity caused by‘ severe layoffs nearly and a problem between two c...