Which of the following committees submitted a report on gas pricing, recommending complete pricing freedom from January 1, 2026?a)P. K. Mohanty Committeeb)Arun Goel Committeec)Kirit Parikh Committeed)More than one of the abovee)None of the aboveCorrect answer is option 'C'. Can you explain this answer?

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Which of the following committees submitted a report on gas pricing, recommending complete pricing freedom from January 1, 2026?

a)
P. K. Mohanty Committee
b)
Arun Goel Committee
c)
Kirit Parikh Committee
d)
More than one of the above
e)
None of the above

Correct answer is option 'C'. Can you explain this answer?

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Which of the following committees submitted a report on gas pricing, r...

Kirit Parikh Committee:

The Kirit Parikh panel recently submitted a report on gas pricing, recommending complete pricing freedom from January 1, 2026. Hence, option 3 is correct.
The committee recommended that India should have completely free and market-determined pricing of natural gas extracted from legacy fields, which account for over 70 per cent of the total natural gas produced in India.
The panel recommended linking the price of gas produced from legacy fields to imported crude oil prices rather than benchmarking them to gas rates in global markets. The arrived rates will be subject to a floor and ceiling.
A fixed band of pricing will create predictable pricing for producers and moderate pricing of CNG and piped cooking gas.
It recommended market-determined pricing for gas produced from legacy fields by January 1, 2027.
The panel recommended including natural gas in the GST regime by subsuming excise duty charged by the Centre and the VAT levied by the states.
To address states’ concerns of revenue loss, the panel recommended setting up a mechanism similar to the 5-year compensation cess regime that buffered the loss incurred by the states while giving up their right to levy VAT and other taxes on goods and services.
The panel also recommended moderation in the excise duty rate.

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Which of the following committees submitted a report on gas pricing, recommending complete pricing freedom from January 1, 2026?a)P. K. Mohanty Committeeb)Arun Goel Committeec)Kirit Parikh Committeed)More than one of the abovee)None of the aboveCorrect answer is option 'C'. Can you explain this answer?

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