MUMBAI: With the National Democratic Alliance (NDA) retaining power with a massive mandate in the national elections, India’s oil and gas industryis hoping to be brought under goods and services tax (GST), besides a push for city gas distribution (CGD) and bio-fuels.
Several analysts said NDA’s re-election will be credit neutral for the domestic oil and gas sector, but company officials are hoping for further reforms.
“Work that was moving slowly due to the election mode, we are hoping is expedited now. We want the government to bring natural gas under the ambit of GST and expect that the work on the city gas distribution segment picks up,” an executive from a CGD company said on condition of anonymity.
