This article is from Feb 18, 2021

Petrol price hikes into Rs 100.. Prime Minister Modi’s reason!

Petrol, diesel and gas prices in India have been rising since the announcement of the Corona curfew. In particular, petrol and diesel prices have touched new highs in the last few weeks. In Rajasthan, the petrol price has touched Rs 100, raising questions about the government. The general public is facing severe difficulties due to the increase in petrol, diesel and gas prices.

In this context, Prime Minister Modi has accused previous governments of failing to take steps to reduce the country’s dependence on imports from abroad for its energy needs.

He also inaugurated the Ramanathapuram-Thoothukudi Natural Gas Pipeline Project in Tamil Nadu and the Gas Production Center at Manali in Chennai, and laid the foundation stone for a crude oil refinery to be set up at Nagai.

Speaking on the occasion, Prime Minister Modi said, “By 2019-20, India will be importing more than 85 per cent of its oil and 53 per cent of its gas. Can our country, which is diverse and knowledgeable, depend on imports for its energy needs? I do not want to criticize anyone. however, we should have focused on projects like this a long time ago.

We need to reduce our dependence on foreign sources of energy. It is our duty to work together to move towards clean and green energy sources. Our government feels the concern of the middle class. Therefore, India is now increasingly focusing on ethanol to help farmers and consumers.

Ethanol extracted from sugarcane is added to petrol to reduce demand for imports. Currently, the target is to raise the rate of 8.5% ethanol added to petrol to 20% by 2025.

India is increasing the share of energy derived from renewable sources. By 2030, 40% of total energy will come from green energy sources. In 2019-20, we were the fourth most refined country in the world (oil). About 65.2 million tonnes of petroleum products are exported. It will rise further.

We are going to increase natural energy by 15 per cent from the current 6.3 per cent in energy and bring it under GST. ”

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He lamented that the previous government (middle Congress) had not reduced imports and had not come up with alternative plans as there would have been no burden on the middle class if it had focused earlier on reducing India’s dependence on energy imports abroad.

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The federal government, which has been pushing for a reduction in gas imports and a move towards alternative energy, has for the past few years raised taxes on petrol and diesel without lowering international crude oil prices and has been cutting gas subsidies for months.

At present, petrol and diesel retail prices are heavily taxed by the central and state governments. It is noteworthy that more than 60% of taxes are levied on petrol and 54% on diesel.

Links : 

Petrol at ₹100 | PM Modi blames previous governments for not cutting import dependence

Narendra Modi, Hon’ble PM of India Launching Developmental Projects in Oil and Gas Sector in TN

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