New Delhi, 15 Feb: Finance minister Nirmala Sitharaman on Wednesday said that petroleum products can be included in the Goods and Services Tax (GST) framework once an agreement in this regard is reached among states.
\nSitharaman also said that the effort of the government over the years has been to increase public expenditure with a view to promote growth.
\n\u201cThe provision is already available for petroleum products to be brought into the GST. My predecessor had already made the window kept open,\u201d she said while speaking at the Post-Budget interactive session with the members of the industry chamber PHDCCI.
\nFive petroleum products viz. petroleum crude, motor spirit (petrol), high speed diesel, natural gas and aviation turbine fuel have temporarily been kept out and the GST Council shall decide the date from which they shall be included in GST.
\n\u201cOnce the states agree, we will have the petroleum products also be covered under the GST. So, that\u2019s not so much of us not wanting it,\u201d she said.
\nThe 49th meeting of the GST Council is scheduled to be held in New Delhi on February 18, 2023.
\n\u201cIt is the entire (GST) council saying yes, and saying yes, not just yes, because it\u2019s already in there.
\n\u201cWhat they have to do is to determine a rate and once they tell me the rate, we get it into the GST,\u201d the finance minister said.
\nThe minister said that the government in the 2023-24 budget increased the capital expenditure by 33 per cent to Rs 10 lakh crore.
\n\u201cConsistently for the last three-four years, the emphasis has been given on public capital expenditure. We have kept that up in this budget\u2026capital expenditure, clearly can be said as a real focus of this budget,\u201d she said.
\n\u201cThis is the first time in many years that the capital expenditure has reached a double-digit amount, making it the clear focus of this budget,\u201d Sitharaman added.
\nShe further said that the states were being nudged to carry forward reforms in various sectors including power and also implement the \u2018one nation, one ration card\u2019 scheme.
\nSitharaman said that she was advised by the prime minister that momentum on growth should not be relaxed or diluted.
\nAccording to the minister, the 2023-24 budget is fiscally responsible, while ensuring public expenditure at a higher level to have a desired multiplier effect on all the sectors. (PTI)
\nShe also noted that the central government is collaborating with the states, as well as the tier III administrations, such as the Panchayats or ward-level administrations, to ensure that MSME priorities remain at the top of the agenda. PTI<\/p>\n","protected":false},"excerpt":{"rendered":"
New Delhi, 15 Feb: Finance minister Nirmala Sitharaman on Wednesday said that petroleum products can be included in the Goods and Services Tax (GST) framework once an agreement in this regard is reached among states. Sitharaman also said that the effort of the government over the years has been to increase public expenditure with a […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":{"0":"post-211100","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-national"},"_links":{"self":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/211100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/comments?post=211100"}],"version-history":[{"count":0,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/posts\/211100\/revisions"}],"wp:attachment":[{"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/media?parent=211100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/categories?post=211100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/arunachaltimes.in\/index.php\/wp-json\/wp\/v2\/tags?post=211100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}