Shri Deora Hails Union Budget 2007-08 as well balanced, long pending demand of oil industry met

The Minister of Petroleum & Natural Gas Shri Murli Deora has hailed the Union Budget 2007-08 as well balanced and with focus on common man. In a statement on the General Budget Shri Deora said, "Finance Minister must be congratulated for the well balanced Budget and with focus on Aam Admi. In the oil sector, he has kept his promise and reduced excise duty on petrol and diesel. When we reduced the prices of petrol and diesel on 15.2.2007, the Finance Minister had committed to partly meet the reduction through changes in duties. I am happy to note that he has fulfilled the assurance and met the long pending demand of the oil industry. Elimination of excise duty on bio diesel will give a boost to environment friendly fuels.

The oil industry is also happy on the reduction of CST by 1%. This will assist in inter-State movements of petroleum products in a cost effective manner.

Gas transport infrastructure will rapidly expand with grant of infrastructure status under section 80 I. This will enthuse companies to come forward in building gas networks in the country".

Source : Press Information Bureau

Keywords