New Delhi : Minister of Petroleum & Natural Gas and Steel, Dharmendra Pradhan today said that on the energy front, India is developing a clear Road Map of Atma Nirbhar Urja for Atma Nirbhar Bharat.
Addressing the ASSOCHAM Foundation Week 2020 today on “Energy Transition to Fuel India’s Growth Path”, he invited India Inc. to join the Atmanirbhar Bharat Urja initiatives to ensure energy justice and end energy poverty in the country.
Minister said that the energy sector will continue to play a pivotal role in our national development, and in realization of the 5 trillion-dollar economy.
Mr.Pradhan said that at the core of the Government’s efforts is to achieve a growth path that is sustainable, keeping in view our national priorities and resources. He said that speaking at the Climate Ambition Summit last week, Prime Minister Narendra Modi ji announced that Centennial India in 2047 will not only meet its own targets, but will also exceed your expectations.
Mr.Pradhan said that there is an all-of-the Government approach to realize the energy transition road map. “Our Government is converting Covid-impacted challenges into opportunities. We have initiated the most significant reforms as envisoned by Prime Minister Modi in building an Aatmanirbhar Bharat or self-reliant India. We have already initiated reforms to transform India from being just a passive market to an active manufacturing hub at the heart of global value chains. We are partnering with the industry and other stakeholders in realizing this vision.”, he added.
Mr.Pradhan said that the Covid pandemic continues to inhibit conduct of normal activity. But there are clear indications of improvements and a gradual increase in activity across all States and sectors of our economy. “We see a reflection of these efforts in how India’s energy sector has bounced back with remarkable resilience. Our energy demand has almost recovered back to pre-Covid levels, particularly for petroleum products, on the back of rejuvenation of economic activities. “
The Minister said “We now allow 100% FDI in exploration and production projects and also permit 49% FDI in public sector refining under the automatic route. We have created a friendly tax regime for Sovereign Wealth and Pension Funds. These reforms are translating into increased FDI flow in the sector.”
Pradhan said that we are ushering a gas-based economy by increasing the share of natural gas in India’s primary energy mix from 6.2% to 15 % by year 2030. Prime Minister has announced last year the target of ‘One Nation One Gas Grid’. India is set to expand the natural gas grid to 34,500 km, by adding another 17000 km of gas pipeline.
“Our regasification capacity of existing 42 MMTPA will be expanded to 61 MMTPA by year 2022. Natural gas marketing reforms have been announced to prescribe standard procedure to discover market price across various contractual regimes through a transparent and competitive manner. Also, we have rationalized tariff to make natural gas affordable in every part of the country
Mr.Pradhan said that the Government has embarked on a massive programme on alternative fuels for enhancing India’s energy sustainability. “We are tapping into huge biomass potential through National Biofuels Policy.
He said by boosting rural economy by waste to wealth generation, under the Sustainable Alternative Towards Affordable Transportation (SATAT) initiatives move is on setting up of 5000 CBG plants by 2023-24 with production target of 15 MMT with an investment of about US $ 20 billion.
