Nifty99000 100%

Sensex99000 100%

Article rating: 4.8
Article rating: 3.7
Article rating: 4.2
Article rating: No rating
Article rating: 5.0
Article rating: No rating
Article rating: 4.0
Article rating: 3.0
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: No rating
Article rating: 3.0
Article rating: 4.5
Article rating: 5.0


‘Bringing petrol, diesel under GST not possible now”

Author: PTI/Wednesday, December 12, 2018/Categories: TRACKING THE GST

‘Bringing petrol, diesel under GST not possible now”

Hyderabad - Former chief economic adviser Arvind Subramanian said the inclusion of petrol and diesel in the Goods and Services Tax (GST) ambit was not possible until the revenues under the new tax regime stabilises

“You know it is desirable to have that (inclusion of petrol and diesel in GST). There is a good economic explanation or fiscal explanation for why it is not easy. Because if you put petroleum products in to GST, naturally you will have a loss of revenues," Subramanian said.

“Because it is (a) widely-used intermediate input. And, therefore, the thinking was that the GST revenues have to stabilise before that can be brought in, because you need to have enough other revenues to cushion for the loss of putting petroleum into the GST,” Subramanian said.

Subramanian said though the country’s growth had slowed down in the recent years, India remains important in the international context. “India is still the place of dynamism in a sense that the most important hope is that our children’s lives will be better than us.”

The GST needs to be improved in terms of many things, so there are many challenges ahead for the economy, Subramanian said.

According to him, standards of living of majority of Indians, including at the bottom, had improved much more rapidly during the past 25-30 years.

“That is why we see big reduction in the poverty, improvement in life expectancy. But it is true that disproportionately, the benefits of are concentrated at the top,” he said.

That is true, but that is a worldwide phenomena not only for India, he added.

Print Rate this article:
No rating

Number of views (202)/Comments (0)

rajyashree guha


Other posts by PTI
Contact author

Leave a comment

Add comment



Ask the Finapolis.

I'm not a robot
Dharmendra Satpathy
Col. Sanjeev Govila (retd)
Hum Fauji Investments
The Finapolis' expert answers your queries on investments, taxation and personal finance. Want advice? Submit your Question above
Want to Invest



The technical studies / analysis discussed here can be at odds with our fundamental views / analysis. The information and views presented in this report are prepared by Karvy Consultants Limited. The information contained herein is based on our analysis and upon sources that we consider reliable. We, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and we are not responsible for any loss incurred based upon it. The investments discussed or recommended in this report may not be suitable for all investors. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advice, as they believe necessary. While acting upon any information or analysis mentioned in this report, investors may please note that neither Karvy nor Karvy Consultants nor any person connected with any associate companies of Karvy accepts any liability arising from the use of this information and views mentioned in this document. The author, directors and other employees of Karvy and its affiliates may hold long or short positions in the above mentioned companies from time to time. Every employee of Karvy and its associate companies is required to disclose his/her individual stock holdings and details of trades, if any, that they undertake. The team rendering corporate analysis and investment recommendations are restricted in purchasing/selling of shares or other securities till such a time this recommendation has either been displayed or has been forwarded to clients of Karvy. All employees are further restricted to place orders only through Karvy Consultants Ltd. This report is intended for a restricted audience and we are not soliciting any action based on it. Neither the information nor any opinion expressed herein constitutes an offer or an invitation to make an offer, to buy or sell any securities, or any options, futures or other derivatives related to such securities.

Subscribe For Free

Get the e-paper free