India plans expert group on fuel pricing; Tax holiday on gas fields restored from current bidding round

摘要

Singapore-The Indian government plans to set up an "expert group" to advise it on oil products pricing in the domestic market, Finance Minister Pranab Mukherjee said July 6, presenting the union budget for fiscal 2009-2010 (April-March) in Parliament. In another landmark decision, Mukherjee announced the restoration of an income tax holiday for the first seven years of production from natural gas fields, which was controversially withdrawn in 2008, and is currently the subject of court battles.