India to spend Rs 7.5 trillion on oil and gas infra in next 5 yrs: PM Modi

Noting that India imports over 85% and 53% of its oil and gas requirements, respectively, the PM says the country is working to meet growing energy demand and prune imports

Prime Minister Narendra Modi | Photo: ANI

The Government of India is planning to spend around Rs 7.5 trillion to build oil and gas infrastructure over the next five years, said Prime Minister Narendra Modi.After dedicating the Ramanathapuram–Thoothukudi natural gas pipeline and Gasoline desulfurisation unit at Chennai Petroleum Corporation Ltd and laying the foundation stone for the Rs 31,500 crore Cauvery basin Refinery at Nagapattinam, the Prime Minister said that in 2019-20, India imported over 85 per cent of oil and 53 per cent of gas to meet its domestic demands. “Can a diverse and talented nation like ours be so energy-dependent,” he asked.

“It is our collective duty to work towards clean and green sources of energy and reduce energy-dependence,” said the Prime Minister, adding that his Government is sensitive to the concerns of the middle class and thus, India is increasing focus on clean and green sources and ethanol to help farmers and consumers. He added, India is working to meet its growing energy demand and is also reducing dependence on energy imports. “We are planning to spend around Rs 7.5 lakh crore (Es 7.5 trillion) in creating oil and gas infrastructure over five years,” said the Prime Minister. Today, Indian oil and gas companies are present in 27 countries with investment worth about Rs 2.7 trillion. About 65.2 million tonnes of petroleum products have been exported. This number is expected to rise even further. “Our companies have ventured overseas in acquisition of quality oil and gas assets,” he said…Read More

Comments

Best Unconventional Workout and Sporting Activities for Summer

In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Summer is the season of holidays, picnics, outings and beaches. With travel and binge eating proper workout becomes that much more essential in summers. But with heat and the sun outdoors, an individual has to balance his indoor and outdoor activities to get a fulfilling workout. In summers, depending upon conditions and circumstances one can incorporate both outdoor and indoor activities in their training schedule. Mentioned below are some of the best physical and sporting activities that one can use as a workout to stay fit in the summer season. Beach Sports - If in summers one is going to spend much time on beaches or at a beach destination then one may use beach sporting activities such as beach rugby, beach soccer, beach tennis and beach volleyball to stay fit. All of these sporting activities on sand provide a ...

PSU bank employees go on two-day strike; services hit at many places

Employees of public sector banks went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country Employees of public sector banks (PSBs) on Thursday went on two-day strike against the move to privatise public sector banks impacting normal banking operation across the country. Many branches across different parts of the country were shut as the United Forum of Bank Union (UFBU), an umbrella body of nine bank unions including All India Bank Officers’ Confederation (AIBOC), All India Bank Employees Association (AIBEA) and National Organisation of Bank Workers (NOBW) had given two day strike call. As a result, services such as deposits and withdrawal at branches, cheque clearance and loan approvals might be affected due to the strike. But ATMs are expected to function as usual. Public sector lenders, including State Bank of India, had informed customers that services in their branches might be affected due to ...

'When rape is inevitable, enjoy it...': Congress MLA in Karnataka Assembly

Senior Karnataka Congress leader KR Ramesh Kumar made a sexist and unsavoury comment on rape in the state Assembly Senior Karnataka Congress leader and former Karnataka Assembly Speaker KR Ramesh Kumar on Thursday made a sexist and unsavoury comment on rape in the state Assembly. Speaking in the Assembly, Kumar said, “There is a saying that when rape is inevitable, lie down and enjoy it. That is exactly the position in which you are.” The senior Congress MLA’s remark was made when MLAs began to demand time from Speaker Vishweshwara Hegde Kageri to discuss farmers’ issues in the Assembly. When the Speaker asked how the Session would be conducted if the time was allotted to everyone. “Whatever you decide I will say yes. What I am thinking is that let us enjoy the situation. I can’t control or regulate the system, my concern is about the business of the house, it has also to be covered,” the Speaker told the members. To this, the Congress MLA Ramesh Kumar mad...

Budget 2018-19

Search This Blog