Moneycontrol
Feb 29, 2012 02:46 PM IST | Source: CNBC-TV18

Union Budget 2012: Praful Patel says duel diesel pricing not feasible for now

Union heavy industries minister Praful Patel is batting for the auto manufacturers on the diesel duty proposal.


Union heavy industries minister Praful Patel is batting for the auto manufacturers on the diesel duty proposal.


The Indian auto manufactures, specifically the diesel auto manufacturers, are concerned about an additional excise duty on diesel cars in Union Budget.


Speaking to CNBC-TV18, Patel said dual diesel pricing is not feasible right now. "We have not pitched for hike in duty for diesel vehicles," he said adding, "diesel is an efficient fuel and we can't discourage its consumption."  


This industry wide opposition comes especially in the wake of a slump in car sales this fiscal.


Meanwhile, with just one-and-half months left to meet the Rs 40,000 crore disinvestment target for this fiscal, a panel of ministers recently okayed stake sale in ONGC in this fiscal. However, divestment in BHEL is expected anytime in FY13.  

Clarifying his stance on the matter, Patel said, he is opposed to the timing and not the FPO itself.

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