Gadkari Calls for Reduced GST on Flex-Fuel Vehicles to Boost Biofuel Adoption
Union Minister Nitin Gadkari advocates for reducing GST on flex-fuel vehicles to 12 percent, highlighting the economic and environmental benefits of biofuel at the India Bio-Energy & Tech Expo.
September 02, 2024. By EI News Network
Union Minister of Road Transport & Highways, Nitin Gadkari has urged state finance ministers to consider reducing the Goods and Services Tax (GST) on flex-fuel vehicles to 12 percent. His call aims to enhance the use of biofuels and decrease India’s dependence on fossil fuels. Speaking at the 'India Bio-Energy & Tech Expo 2024: An International Conference and Exhibition on Bioenergy & Technologies' organised by the Indian Federation of Green Energy (IFGE) and MMACTIV Sci-Tech Communications Ltd., Gadkari emphasised the need for policy reforms to support the biofuel industry.
The expo, scheduled from September 2-4, 2024, in Delhi, represents a major initiative in advancing bioenergy technologies and is backed by the Ministry of Road Transport and Highways. Gadkari highlighted that reducing GST on flex-fuel vehicles could drive significant economic and environmental benefits, including reduced fossil fuel imports and enhanced agricultural sector opportunities. This policy shift aligns with broader goals to foster sustainable energy solutions and strengthen India’s biofuel sector.
In his address, Gadkari disclosed that he had reached out to various state finance ministers, including Maharashtra’s FM Ajit Pawar, urging them to advocate for the GST reduction in upcoming meetings with Union Finance Minister Nirmala Sitharaman. Gadkari also highlighted his request to Uttar Pradesh Chief Minister Yogi Adityanath to consider tax reductions on flex-fuel vehicles as part of a broader strategy to support biofuel.
Gadkari's push for reduced GST reflects his broader vision of enhancing India’s biofuel sector, which he sees as a vital component of the country's strategy to reduce greenhouse gas emissions and strengthen energy security.
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