Financial Daily from THE HINDU group of publications
Friday, Nov 08, 2002
Financial Daily from THE HINDU group of publications Friday, Nov 08, 2002 |
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Agri-Biz & Commodities
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Sugar Industry & Economy - Petroleum Gasohol tax: Naik to meet State Ministers today Our Bureau
NEW DELHI, Nov. 7 THE Union Petroleum Minister, Mr Ram Naik, will be meeting excise ministers of nine sugarcane-growing states on November 8 to extract sales tax and other fiscal concessions on sale of petrol doped with 5 per cent ethanol from January 1, 2003. Mr Naik will be seeking lower taxes for ethanol-doped petrol as well as fiscal concessions for molasses extracted from sugarcane for manufacture of ethanol to ensure competitiveness of ethanol-doped petrol vis-a-vis non-doped petrol, officials said. The Union Food Minister, Mr Sharad Yadav, and the Agriculture Minister, Mr Ajit Singh, are also slated to attend the meeting. Mr Naik will also be reviewing the preparedness of oil marketing companies for introduction of the ethanol-blended petrol from January 1, 2003. Recently, the Government made it mandatory for supply of petrol blended with 5 per cent ethanol from January 1, 2003 in the nine states of Andhra Pradesh, Gujarat, Haryana, Karnataka, Maharashtra, Punjab, Tamil Nadu, Uttar Pradesh and Goa and Union Territories of Daman & Diu, Dadra & Nagar Haveli, Chandigarh and Pondicherry.
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