CAG: Only 21% of cess on crude oil utilised for intended purpose in 5 yrs
Oil Industry (Development) Act, 1974 provides for establishment of Oil Industry Development Board (OIDB) for the development of Oil Industry and for that purpose levy a duty of excise on crude oil and natural gas as a cess. Flagging concerns that cess proceeds collected by the Centre is not being fully utilised for the identified …
CAG: Only 21% of cess on crude oil utilised for intended purpose in 5 yrs Read More »