No tax breaks: poor response feared for NELP VII
Sujay Mehdudia NEW DELHI: With the Finance Ministry clearing the air on the tax breaks for oil and gas production related activity, the seventh round of the New Exploration Licensing Policy (NELP) could well evoke poor response from the international and domestic investors. While refusing to extend any further the last date for submission of bids under NELP VII beyond June 30, Petroleum and Natural Gas Minister Murli Deora asked the potential investors to keep in mind while bidding for oil and gas blocks that the promised tax breaks might not come through.