NEWSLINKS
US EDITION
COLUMNISTS
DIARY
SPECIALS
INTERVIEWS
CAPITAL BUZZ
REDIFF POLL
DEAR REDIFF
THE STATES
ELECTIONS
ARCHIVES

Search Rediff

Rediff Shopping

Shop & gift from thousands of products!   Books     Music       Apparel   Jewellery   Flowers   More..      Safe Shopping

No formal proposal from petroleum ministry yet: Dhananjay

Union Minister of State for Finance Dhananjay Kumar on Saturday said the petroleum ministry was yet to make a formal proposal to the finance ministry for a hike in the prices of petroleum products.

Talking to newspersons in Hubli, he said the country should be prepared for some hard decisions as the 'oil pool' deficit had gone up by Rs 90 billion. He said consumption of petroleum products had gone up by leaps and bounds in the country following the increase in number of vehicles on the roads.

Kumar said the Centre had decided to dismantle the administered price mechanism and open up the marketing of petroleum products.

Further, he said the government was committed on implementing the Value Added Tax system by February next. The state governments have demanded more time to create infrastructure like training, computerisation and marketing system, he added.

UNI

Back to top

Tell us what you think of this report