Hardeep Singh Puri calls to build consensus over bringing petrol, diesel under GST
Hardeep Singh Puri on Friday called to build consensus over bringing petrol, diesel under the Goods and Services Tax.
While delivering a lecture on «Strategy and Measures for Enhancing India's Energy Security in the Coming Decade» at the Pune International Centre's (PIC) 14th Foundation Day lecture, he said, «I have heard a suggestion to bring petrol and diesel under GST, now petrol and diesel under GST is something that I have been advocating for a long period of time. Now I am very sure that my senior colleague, the finance minister, has also spoken about bringing fuel under GST on several occasions.»
To enhance its energy security, India needs to focus on strategic petroleum reserves and prioritise exploration and production to reduce its heavy reliance on imported fuel.
Puri highlighted that with a population of 1.4 billion and energy consumption projected to be three times the global average, India is positioned to be a key player in the global energy landscape. Over the next two decades, he noted, India is expected to contribute to 25 percent of the world's increase in energy consumption.
Puri emphasised that achieving this requires unanimous approval from all states and acknowledges the challenges in getting states on board, as petrol and diesel are significant revenue generators for them.
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