Amid rising prices of petrol and diesel in the country, Prime Minister Narendra Modi on Monday admitted that the energy sector in India was “highly uneven”. Modi said there was scope for reform in many areas in the energy sector.
Modi made the comments when he met senior officials of oil and gas companies and several experts from the sector across the world. The chief executive officers of major companies, including Russia’s Rosneft, Bharat Petroleum Reliance, Exxon Mobil, Vedanta, Oil and Natural Gas Corporation, Gas Authority of India Limited and Oil India, were present at the meeting.
The meeting was coordinated by the Niti Aayog. Minister for Petroleum and Natural Gas Dharmendra Pradhan also attended.
Modi welcomed suggestions made for a comprehensive energy policy, according to a press release by the Prime Minister’s Office. He also flagged the potential of biomass energy and invited joint ventures in coal gasification. Some participants recommended that gas and electricity be brought under the ambit of the Goods and Services Tax, the release said.
The government has faced severe flak for the rising crude oil prices. In September, petrol prices went up by seven to eight paise a litre, while diesel rates increased by 10-11 paise in Delhi, Kolkata, Mumbai and Chennai. On October 3, the government had reduced the basic excise duty on petrol and diesel – both branded and unbranded – by Rs 2 per litre.
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