The Centre will soon come out with policies on the second-generation ethanol as well as methanol, non-conventional fuel resources, which will bring down the crude import bill by Rs 1 lakh crore, Union Minister Nitin Gadkari said today.
Pradhan said in Lok Sabha that so far the petroleum products have been kept out of the purview of the proposed Goods and Services Tax but an in-principle decision has been taken to bring petroleum products under it.
The prices of ATF, petrol and diesel have been made market determined by the government since April, 2001, June 26, 2010 and October 19, 2014 respectively, Sitharaman said, replying on behalf of Petroleum Minister Dharmendra Pradhan, in Lok Sabha.
"Government has prioritised domestic gas allocation for CGD entities and has issued guidelines wherein the entire requirement of CGD entities for PNG (domestic) segment is being met through domestic gas," Sitharaman, replying on behalf of Petroleum Minister Dharmendra Pradhan, said in Lok Sabha during Question Hour.
The Federation of Indian Airlines (FIA) during the proposed meeting is also expected to raise other related issues, including oil companies alleged failure to bring down ATF prices in line with the reduction in crude prices since 2014, sources said.
Releasing the Hydrocarbon Vision 2030 for Northeast India, Petroleum Minister Dharmendra Pradhan said that the region has enormous potential in the oil and gas sector.
This facility was launched on Sunday by Petroleum Minister Dharmendra Pradhan. "Launched 'Online payment facility' for LPG refill to bring consumer convenience, transparency & cashless transaction," Pradhan tweeted.
Both US and global benchmark Brent crude have been plummeting since an OPEC meeting on December 4 at which the oil-producing countries removed their production ceiling.
The petroleum ministry has proposed to free up the prices in its cabinet note, which is a major step towards complete de-regulation of diesel prices.