India’s petroleum ministry wants excise duty on petroleum products scrapped

India’s Petroleum Ministry has asked the country’s Finance Ministry to consider scrapping the one-off tax on petroleum products due to falling crude oil prices, Indian broadcaster ET Now exclusively reported on Monday, citing sources. The oil ministry has called for the immediate withdrawal of the one-off tax on petroleum products in India due to the recent fall in crude oil prices and the oil ministry’s expectation that oil prices will fall further, ET Now reported. The Ministry of Petroleum sent a series of presentations to…