Recently Govt. reduced price of petroleum products ie. Diesel and Petrol (so called Gasoline outside India). It was just to please India as The Elections are approaching but Mr. Chidambaram is now playing a nice game and in next budget it is proposed to get Mining, drilling, site survey, engaging labour for such services etc. is supposed to get SERVICE TAXABLE , what does it means ?

It simply means that production of Oil will get costlier for companies and hence in the end it will the consumer who have the burden on them. These all service TAXES will result in increased prices of OIL and other related stuffs.

Though it is proposed but Chidambaram says that if they will not do it then they have to suffer huge losses.