Union Minister Dharmendra Pradhan on Friday said that petroleum products should be brought in the ambit of Goods and Services Tax (GST).
Talking to media, Pradhan said, "We have to have a rational tax management. Both the state and union governments have to come to this consensus that petroleum products must come under the GST mechanism."
He, however, remained non-committal on the rising diesel and petroleum prices in the country.
"You have to appreciate the changing scenario. Everyday there is a pinch and relief. Due to natural calamities in the coastal areas of the United States, 13 percent refining capacity has been reduced which impacts the international market and which is now pinching," he said.
The Minister further said that for a robust economy, the pricing freedom should remain with the oil companies.
Commenting on Congress Party's threat to stage a country-wide protest against rise in excise duty of petrol and diesel, Pradhan said that the grand old party has looted the people while it was in power for 15 years, whereas the Bharatiya Janata Party (BJP) are using the profits to benefit the consumers.
Defending the higher duty, he said that, "The government's budgetary allocation in past three years under rail, road, agriculture, irrigation, drinking water, education, health care as increased.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)