Oil minister meets Odisha CM over IOCL impasse

Pradhan says it is important for Odisha to incentivise the expansion plans of IOCL to create petrochemical and downstream industries in the state

GN Bureau | August 21, 2017


#PSU   #IOCL   #tax   #Odisha   #Dharmendra Pradhan   #Naveen Patnaik  

 In order to resolve a tax-dispute between Indian Oil Corporation Limited (IOCL) and government of Odisha, a meeting was held between minister of state (I/C) for petroleum & natural gas Dharmendra Pradhan and Odisha chief minister Naveen Patnaik in New Delhi.

During the meeting, Pradhan was of the view that though Odisha had extended the tax concession in 2004, there was a necessity of finding an amicable solution to the present impasse keeping in view the fiscal health of the state and commercial interest of IOCL.  He stressed on the need for finding an amicable solution, wherein both IOCL and the state government can work out a mutually acceptable solution by climbing down from their stated positions.
 
Pradhan was of the opinion that it was important for Odisha to incentivise the expansion plans of IOCL to create petrochemical and downstream industries in the state. 
 
Over a period of time, it will enable Odisha to increase its revenue and also create additional employment avenues for the youth of the state. This will lay the foundation of a new industrial ecosystem, facilitating industrialisation and fiscal consolidation. This is in keeping with the vision of the prime minister to provide adequate resources for development and industrialisation of eastern India, including Odisha.
 

Comments

 

Other News

Modi at Davos: On how to realise the dream of a beautiful shared future

Prime minister Narendra Modi underlined the need for a consensus among the nation to realise the dream of a beautiful shared future, as he addressed the plenary session of the World Economic Forum (WEF) in Davos on Tuesday. After introductory remarks by the Forum`s founder and executive chai

RECTPCL hands over SPV to Power Grid Corp

REC Transmission Projects Company Ltd (RECTPCL), a subsidiary of Rural Electrification Corporation Ltd (REC), has handed over project specific special purpose vehicle (SPV) namely ERSS XXI Transmission Ltd to Power Grid Corporation of India Ltd (PGCIL). Competing alongside with the private p

BEML launches new wheel loader

Bharat Earth Movers Limited (BEML), a ministry of defence PSU, has launched a 5.4 ton wheel loader BL30-1 at Excon Exhibition 2017 in Bangalore. The high performance and rugged wheel loader is designed and developed by BEML. BL30-1 Frontend Wheel Loader is designed for maximum

SC must be subject to constant scrutiny: Justice Chelameswar

The supreme court should be subjected to constant scrutiny so that it improves, Justice Jasti Chelameswar said at a book release function on Monday. This was his first public appearance in Delhi after a January 12 press conference at which he and three fellow judges had spoken up about their differences wi

Karat then, Yechury now; Left leadership remains clueless

Much before Communist Party of India (Marxist) general secretary Sitaram Yechury got marginalised within the party’s central committee last week over the possibility of an alliance with the Congress, is learnt to have had an interesting conversation with Arun Jaitley, his fellow student-politician ba

Thumri should be taught in schools: Chhannulal Mishra

Pandit Chhannulal Mishra is a noted exponent of Banaras and Kairana gharanas. Born in Hariharpur of Azamgarh district, he learnt musical notes from various gurus and thus his music is an amalgamation of various forms and gharanas. His classical folk music has been mesmerising music lovers across the wo

Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter