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-Xi script a new chapter in bilateral relations

Prime minister Narendra Modi has accepted president Xi Jinping’s invitation to visit China in 2020 for their third informal summit after Wuhan and Mamallapuram, indicating both sides’ realization of the importance of the mechanism which gives the two leaders of the Asian giants an opportunity t

Dharma as the original Idea of India

Dharma: Hinduism and Religions in India By Chaturvedi Badrinath Edited by Tulsi Badrinath Penguin, 194+ xiii pages, Rs 499 How to live: That is the most fundamental question of human existence.

Prakash Ambedkar on why he wants other parties to mention the candidates’ community

Prakash Ambedkar, grandson of Dr BR Ambedkar and popularly known as Balasaheb Ambedkar, heads the Vanchit Bahujan Aghadi (VBA). The three-time MP founded this new political party last year with a vision of Ambedkarism, secularism, socialism and progressivism. The VBA, registered this year before the Lo

Maharashtra, Haryana polls: parties spent Rs 280.72 crore on publicity

Political parties that contested the Maharashtra and Haryana assembly elections in 2014 spent the largest part of their expenses, Rs 280.72 crore (77.35 percent), on publicity, shows an analysis by the National Election Watch (NEW). This was followed by Rs 41.40 crore on travel expenses, Rs 22.59 crore on

Why Modi-Xi informal summit in Mamallapuram is important

Barely four days are left for Chinese president Xi Jinping to land in Mamallapuram (or Mahabalipuram) for an informal summit with prime minister Narendra Modi. While official confirmation is still awaited at the time of writing, the two leaders are expected to meet in this Tamil Nadu town known for its tem

Aarey tree cutting: Supreme court orders status quo

Citizen protesters had some relief on Monday as the Supreme Court ordered a status quo pm the cutting of trees in Aarey forests of Mumbai to build a Metro Rail shed. The apex court’s forest bench will hear the matter in detail on October 21 to find out if the selected site falls in the



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter