You are here: Home » News-CM » Economy » News
Business Standard

Government To Spend 7.5 Lakh Crores In Creating Oil And Gas Infrastructure Over Next Five Years

Capital Market 

Prime Minister Narendra Modi stated yesterday that India is increasing the share of energy from renewable sources. By 2030, 40% of all energy will be generated from green energy sources. CPCL's new Gasoline desulphurisation Unit at its refinery in Manali inaugurated today is another effort for a greener future. The refinery will now produce low sulphur environment friendly fuel of BS VI specification.

Since 2014, the government has brought in various reforms across the Oil and Gas sector covering exploration and production, natural gas, marketing and distribution. Uniformity of tax will lead to reduction of cost of natural gas and increase in its usage across industries. The government is committed to bringing natural gas under the GST regime. It is planned to spend seven and a half lakh crores in creating oil and gas infrastructure over five years. A strong emphasis has been laid on the expansion of city gas distribution networks by covering 407 districts.

Powered by Capital Market - Live News

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

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Thu, February 18 2021. 11:38 IST