“The Union Budget for 2017-18 has been really forthcoming with a well-defined agenda – Transform, Energise and Clean India (TECIndia). In realising the government’s vision of energy self-sufficiency, the upstream industry was looking forward to a reduction in the cess imposed on domestic crude from the current level of 20 per cent ad valorem to about 8 per cent. While it would have been encouraging for the sector if the Finance Ministry would have taken cognizance of this need and aided us with a reduced cess liability, we are hopeful of a corrective action soon.”
- Sudhir Mathur, Acting CEO, Cairn India Limited
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