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Patna,(BiharTimes): Deputy Chief Minister-cum-Finance Minister Sushil Kumar Modi will ask the Centre to scrap five percent customs duty on imported crude oil at the Finance Ministers Conference in Delhi on Wednesday.
Talking to reporters on the eve of the meet Sushil Modi said the Centre should consider scrapping the five percent custom duty on imported crude oil to reduce petroleum prices to provide relief to the common man bearing the brunt of inflation and price rise. |
He said the Centre should also consider imposition of a flat rate of tax on sale of petroleum products doing away with the variable tax rate in place at present.
Modi said that a price stabilization fund should be setup by the Centre to compensate petroleum companies during escalation in crude prices in the international market from time to time.
The state finance minister said that the Centre should consider setting up a mechanism to keep food and vegetable prices under control.
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