Excise relief for NE refineries turned down

NEW DELHI, May 8 � The Finance Ministry has turned down a recommendation of the Ministry of Petroleum and Natural Gas to increase excise duty concessions to the refineries located in North-east to 100 per cent for their long-term sustenance and viability.

Confirming that the Ministry of Petroleum and Natural Gas had in its budget proposals to the Finance Ministry endorsed the recommendation of the Parliamentary Standing Committee, Minister of State for Petroleum and Natural Gas, RPN Singh said that the proposal did not feature in the Union Budget for 2012-2013.