Will bringing petroleum products under GST help tame inflation

India, today, covers nearly the majority of its oil needs through imports. This is leading to a widening trade deficit; a weaker rupee and higher inflation as crude prices breached the $100 a barrel mark. This is no doubt going to be a major drag on growth. Bringing petroleum & natural gas under GST is a long-standing demand from the industry and the Government should begin consultations with the states to bring it under the GST.