ASSOCHAM NEWS

Indian industrial body, ASSOCHAM has suggested Indian government to reduce taxes over oil, and to bring the ‘black gold’ under GST regime. This decision might make India's exports competitive; bring down current account deficit and depreciation of Indian currency. Noting that higher crude prices adversely affect fiscal and current account deficits of the economy, ASSOCHAM recommends that reduction in oil duties will be advantageous to the country's exports.