PM Modi calls for cut in energy imports by 50% by 2030

Modi said the decision to surrender LPG subsidy by 2.8 lakh consumers could result in a savings of Rs 100 crore

Prime Minister Narendra Modi on Friday appealed to the nation to strive for reducing energy import dependence to 50% of total usage from more than 77% at present.

"India's energy import dependence should come down by 10 per cent when India celebrates 75 years of independence in 2022. Once this is achieved, it should come down further to 50 per cent by 2030," Modi said in his speech at Urja Sangam, an annual energy-focused summit.

Modi also said his government's efforts at energy reforms in the past 10 months have led to 2.8 lakh persons giving up their LPG subsidy, leading to savings of over Rs 100 crore. He also praised the petroleum ministry for implementing the world's largest cash transfer scheme, DBT in LPG, within 100 days.

The PM also said the government is looking to increase coverage of Piped Natural Gas (PNG) from the current 2.7 million households to 10 million over the next four years.

Modi also said his government is committed to investing thousands of crores over the next few years to expand India's gas grid network to cover the untouched areas in the eastern parts of the country.