Centre, states need to think about reducing taxes on petrol, diesel: Anurag Thakur

Centre, states need to think about reducing taxes on petrol, diesel: Anurag Thakur

PTIUpdated: Monday, March 15, 2021, 03:04 PM IST
article-image
MoS for Finance Anurag Thakur at Parliament House complex | PTI Photo

New Delhi: Minister of State for Finance Anurag Thakur on Monday said both the Centre and the states need to think about reducing taxes on petrol and diesel as their prices have risen sharply in the recent weeks.

Replying to a question in Lok Sabha, Thakur also said that the government was ready to discuss the issue of bringing petroleum products under the ambit of Goods and Services Tax (GST).

"The Centre is ready to consider the idea of reducing the tax on petrol and diesel, the states should also consider it," he said.

The Centre levies excise duty on petrol and diesel, while the states levy VAT. "The state governments should reduce taxes on petrol, we (the Centre) will also try to reduce tax on petrol.

"Both the Centre and the states need to think about it (reducing taxes on petrol)," the minister said. Thakur also pointed out that in March 2020, the price of crude oil was around USD 19 per barrel. AT present, the price of crude oil is around USD 65 per barrel.

On why the government was not bringing petroleum products under GST as promised by the then Finance Minister Arun Jaitley, Thakur said no state has so far given a proposal for the same.

"If any state feels that petroleum products should be brought under GST then the Centre has no objection in discussing about it," he said.

Last month, Union Finance Minister Nirmala Sitharaman and RBI Governor Shaktikanta Das had said the Centre and the states should talk to each other and look for a "coordinated action" to reduce taxes on diesel and petrol.

RECENT STORIES

WATCH: Newly-Built Rajasthan Highway Collapses Into River Before Inauguration After Torrential Rains

WATCH: Newly-Built Rajasthan Highway Collapses Into River Before Inauguration After Torrential Rains

Uttar Pradesh Jumps 11 Ranks In SDG Index, Enters 'Front Runner' Category With 25-Point Score Rise

Uttar Pradesh Jumps 11 Ranks In SDG Index, Enters 'Front Runner' Category With 25-Point Score Rise

27 Lakh Electricity Workers To Join Nationwide Strike On July 9 Against Power Sector Privatisation

27 Lakh Electricity Workers To Join Nationwide Strike On July 9 Against Power Sector Privatisation

ISRO Chief Announces Plans For India’s Own Space Station; Stresses Lightning Forecast Tech To Save...

ISRO Chief Announces Plans For India’s Own Space Station; Stresses Lightning Forecast Tech To Save...

UP Minister Gulab Devi Injured In Convoy Collision Near Hapur Toll Plaza; Security Personnel...

UP Minister Gulab Devi Injured In Convoy Collision Near Hapur Toll Plaza; Security Personnel...