In India, the transport minister plans to ask his finance counterpart to reduce the Goods and Services Tax on biodiesel to 5% from the current 18% in response to industry concerns that higher taxes could damage demand for the fuel. The government is seeking to reduce fossil fuel imports 10% by 2022 through a switch to domestic renewable fuels, leaving policies incoherent with this overall goal counterproductive. Currently 80% of fuels for transportation and domestic use are imported.
Category: Fuels