Pre-Budget Ripples Suggest Major Reforms Ahead in Oil & Gas Segment

摘要

As the government prepares to present its next budget, the oil & gas sector is waiting with bated breath. In the wake of uncertain market situations prevailing globally, earlier budgets, especially since the BJP came to power, appear to have largely ignored the oil & gas sector apart from brief and academic manipulations which have not really changed the status quo. However, the buzz seems to be that all that will change this time. A recent petition submits a long list of suggestions in the direct and indirect taxation regime that will enable all segments of the industry to push ahead aggressively. Many of these suggestions are real barriers to growth and they figure in repeated pre-budget memorandums.