Union Minister of State for Petroleum and Natural Gas Dharmendra Pardhan has said that the government is preparing grounds for international level petroleum companies which are eager to invest in India. He said such investment by foreign companies will not only boost Indian market but would also help in strengthening the economy of the country.Speaking to media in Amritsar, today, while on way to Turkmenistan to discuss the laying of oil pipeline up to India, he said India is now being seen as a better country for investment. He said he is going to Turkmenistan to attend a special meeting to finalize the pipeline project which would pass through Afghanistan and Pakistan to reach India.When asked that Punjab has imposed an extra VAT on domestic gas cylinders and other petroleum products, Pardhan said that some of the states which have adopted this practice have been requested to keep petro products under GST or should not impose that much VAT which can put unnecessary burden on the consumers.Later, he also addressed a meeting of senior officials from Indian Oil and Bharat Petroleum to review the direct transfer scheme of subsidy on domestic gas which has started in 6 districts of Punjab along with 54 across the country. He said next phase of scheme will start from January 1, 2015.
News On AIR | November 18, 2014 1:44 PM
Preparing grounds for investment of foreign petroleum companies in India: Govt