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No question of rollback of fuel price deregulation: Oil Minister
New Delhi, June 6 (IANS) Sternly ruling out any rollback of deregulation of fuel prices, Oil Minister Dharmendra Pradhan on Wednesday said despite having the burden of repaying oil bonds, the government will take full responsibility of keeping fuel prices in check and ensuring they don’t go out of reach of the common man.
Addressing a press conference here, Pradhan reiterated that the government was working on a long-term solution to address oil price fluctuations while taking a holistic view of all factors.
He said there was a greater conducive environment to bring petroleum products under the Goods and Services Tax (GST), however adding that the GST Council would have to take a call on that.
“I stand by my statement: the government will take a holistic view. There are three major factors for oil price hike — geopolitics leading to fluctuation in international crude oil prices, exchange rate fluctuation between dollar and Indian currency, and taxation structure of our country where some taxes are imposed by state governments and (Centre imposes) excise duty,” Pradhan said.
“Taking into account all this and while ensuring that India’s poor and middle classes do not have to bear the pinch (due to oil prices), the government will take all necessary steps.”
Asked if as part of the “long-term plan” to deal with rising fuel prices, the government was considering partial rollback of deregulation, Pradhan said: “That question doesn’t arise. It is a reformist government. We cannot go back on reforms.”
The Minister said that while reduction in petrol and diesel prices had started, albeit due to international developments, the government is “sensitive and committed towards interests of poor and middle classes”.
“No one can predict oil price fluctuations, but I assure (you) that taking into account all factors — and despite there being some factors beyond our control — the government will handle this issue with complete sensitivity and will take responsibility for it,” he said.
Terming “unfair” the comparisons of fuel prices during the UPA regime — when crude prices were skyrocketing — with the current government, Pradhan said inflation was responsible for high prices.
“Inflation has increased significantly and that’s why high fuel prices. But we will ensure the prices don’t go so high that they get out of the reach of the poor and middle classes.”
Referring to Former Finance Minister P. Chidambaram’s comments that there was a room for cutting oil prices by as much as Rs 25 per litre, he said: “In the name of oil bonds (issued to oil companies for subsidising fuel), a huge burden has been left by the previous government on the current government. We never complained and are paying off those bonds.”
About the possibility of bringing transportation fuel under the new indirect tax regime, the Minister said while GST is imposed on all the processes of the oil sector — production, pipeline and refineries — but there is no GST on the finished goods.
“Hence we are not able to realise it (claim input tax credit). That’s why petroleum products should be brought under GST,” he said, adding that the GST Council is responsible for the same.
“However, while interacting with Chief Ministers, I am getting more and more positive vibes and I feel that it will be brought under GST soon. The reservations related to the new tax regime are going away after its successful implementation,” Pradhan said.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.
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