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Energy Sector Has Seen Unprecedented Reforms In Last Five Years

Capital Market 

Minister of Petroleum and Natural Gas & Skill Development and Entrepreneurship Dharmendra Pradhan said in a latest speech India has seen unprecedented reforms in the last five years in the energy sector. He said that these reforms have accelerated our work in delivering energy justice to the poorest of the poor by adopting the four pillars visualized by Prime Minister Modi- Energy access, Energy efficiency, Energy sustainability and Energy security as our guiding principles.

Pradhan said the world is seeing a dramatic shift in the sources of energy supply and consumption. There has been a big shift in energy consumption from OECD countries to developing Asia. Electric vehicles will also change the consumption patterns. US has become the world's largest oil and gas producer after the shale revolution and is challenging the traditional oil dynamics. Affordable Solar PV is taking increasing share in the supply mix, helping to reduce carbon footprints.

The Minister also said that today, India's voice as a large, reliable energy consuming nation is heard with respect. He noted that we have been able to convince the oil suppliers about India's as well as all consuming nations justified stand for a responsible and reasonable pricing. We have been able to simplify and reform our oil and gas sector policies and guidelines to attract new investors and inject new technologies. Schemes like Ujjwala and expansion of CGD have proved to be game-changer in drastically ramping up access to clean cooking fuel to millions of common people.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 11 2019. 13:06 IST