Petrochemicals sector seeks cut in excise duty on Naphtha to 8%, increase customs duty on polymers, chemicals & fibre intermediates to 10% and to remove customs duty on naphtha & propane.
It would be pertinent to rationalize the duty on polymers to generate more investment in the sector.
Excise duty cut to boost Polymers sector.
Strong refining and petrochemical margins seen boosting consolidated net by up to 6%
According to industry figures, the pre-Covid demand for liquid medical oxygen (LMO) before the pandemic was 700 tonnes per day across the country. Now, with the second wave, the demand has gone up more than seven times, reports Jyoti Mukul.