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India needs to reduce dependence on import of crude oil: Nitin Gadkari

"Situation of state-run Discoms are very bad and are running on losses. In power, their principle is 'more generation, more losses, no generation, no losses', Gadkari said.

Nitin Gadkari  | Crude oil price spike | fuel imports


Nitin Gadkari
Nitin Gadkari

Union Minister for Road Transport and Highways on Monday said that the country imports petrol and diesel worth Rs 8 lakh crore and it will increase to Rs 25 lakh crore in the next five years if the trend of its utilisation continues.

"India currently spends nearly Rs 8 lakh crore on import of diesel and petrol, which may increase to Rs 25 lakh crore in next five years, if the trend continues. Diesel and petrol are not good for environment," Gadkari said while addressing a business meeting organised by International Vaish Federation in Delhi on Monday.

He further said that the people of Delhi need not be told about the pollution that happens due to petrol and diesel.

Pitching people to switch to alternative fuels for vehicles, the union minister said, "I urged the investors to take interest in manufacturing ethanol and other cleaner and indigenous fuels to reduce dependence on import of the crude oil."

Gadkari also said that in the future country's public transport will witness a change and will switch to alternative fuel. "In electric vehicles, we have lithium-ion batteries. About 80 per cent of lithium-ion battery is being manufactured within the country. In the next six months, we will achieve 100 per cent of its manufacturing in the country. Its cost is also reducing," he said.

The Union Minister also said that state-run discoms are running on losses. "Situation of state-run Discoms are very bad and are running on losses. In power, their principle is 'more generation, more losses, no generation, no losses'," he said.

"In the near future, India would need more power as there is a probability that economic growth of the country will accelerate. So, probably in December, January, February, March, April and May, we may face the problem of power shortage," he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, October 26 2021. 08:58 IST