All options being considered: Deora

Petroleum Minister Murli Deora says the Govt is considering levying a surcharge on income tax and corporate tax to bail out oil firms reeling under high international oil prices.

The government is considering levying a surcharge on income tax and corporate tax to bail out oil firms that are reeling under high international oil prices.

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This was one of the proposals discussed when Petroleum Minister Murli Deora met Finance Minister P Chidambaram this morning.

"We discussed various options but nothing has been decided," Deora said after the meeting.

"Hopefully decision will be taken soon," he added.