GST on fuel may delay as government revenues slide

India’s recent economic slowdown has caused the Asian Development Bank to lower India’s expected economic growth rate from 7.4% to 7%. Economists and experts broadly name demonetisation after-effects and GST implementation woes as decelerators, slumping growth across all domestic, consumer-driven markets. India pays a dual tax on fuel, namely a VAT and excise duty. VAT … Continue reading “GST on fuel may delay as government revenues slide”

GST on petrol and diesel: Could the national tax lower fuel prices?

Petrol prices touched nearly INR 79.48 in Mumbai on Tuesday morning, marking a three-year high. Since India announced complete deregulation of fuel in June, the daily revised, market-adjusted prices have experienced less volatility. However, they continue to display anomalous variations that are not entirely derived from global market trends. These price discrepancies occur, in part, … Continue reading “GST on petrol and diesel: Could the national tax lower fuel prices?”

India’s $2 billion biofuel policy to cut crude oil imports by 10%

At a conference marking World Biofuel Day on Thursday, 10 August, oil minister Dharmendra Pradhan, announced India’s goal to establish a biofuel economy worth INR 1 trillion (USD 15.6 billion) by 2019. The nation’s three leading oil companies have already pledged a $2 billion investment to launch research and development in biofuel technologies. The investments … Continue reading “India’s $2 billion biofuel policy to cut crude oil imports by 10%”

3 supply chain lessons from the ONGC – HPCL acquisition

The Cabinet approves Prime Minister Modi’s PSU plan to establish a vertically integrated oil giant by selling a 51% government stake in HPCL (Hindustan Petroleum Corporation Limited) to upstream behemoth, ONGC (Oil and Natural Gas Corporation). The consolidated supply chains will serve to minimise risk, increase capacity and catapult India’s recently deregulated oil market to … Continue reading “3 supply chain lessons from the ONGC – HPCL acquisition”