‘India faces formidable challenges on energy front’

April 28, 2012
Electra

Bhatinda, April 28: Stating that India faces “formidable” challenges on the energy front, Prime Minister Manmohan Singh on Saturday said spiralling international oil prices have put a strain on the country’s import bill and domestic prices need to be rationalised.

“With imports accounting for about 80 per cent of our crude supplies, the spiralling prices of crude in the international market have put a severe strain on our import bill,” he said formally opening a USD 4 billion refinery here.

State-owned oil companies haven’t raised diesel, domestic LPG and kerosene for almost a year despite cost of raw material rising by a quarter.

“We also need to rationalise prices and at the same time ensure that the poor and needy are shielded from the effects of such a rationalisation,” he said.

The government had in June 2010 freed petrol prices from its control but PSU oil companies haven’t been able to raise prices because of political pressure. Petrol price of Rs 65.64 a litre in Delhi is about Rs 9 short of its cost.

The government controls rates of diesel, domestic LPG and kerosene. Oil companies sell diesel at a discount of Rs 16.16 a litre, while they lose Rs 32.59 on sale of every litre of kerosene. A 14.2-kg domestic LPG cylinder costs Rs 570.50 less than its actual cost.

“In order to insulate the common man from the impact of rising oil prices, the Government shoulders a sizeable portion of the burden by pricing diesel, Kerosene and domestic LPG below their market prices,” he said.

Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum lost about Rs 138,800 crore in revenues on selling diesel, domestic LPG and kerosene below cost in 2011-12. This fiscal, the revenue loss is estimated at Rs 208,000 crore.

“The challenges we face on the energy front are formidable. We need adequate supplies of energy at affordable prices. Domestic sources of crude oil and gas are inadequate to meet the growing demands of our rapidly expanding economy,” Dr. Singh said.

The Prime Minister said the 9 million tonne a year Guru Gobind Singh Refinery was built at a total investment of Rs 20,000 crore and is an example of what the public and the private sectors can achieve in partnership with each other.

“Ever since the project was initiated in the year 2004, our government has been monitoring its progress regularly and I am happy that our long standing commitment to the people of Punjab has finally been fulfilled,” he said.

HMEL, a joint venture of steel czar Lakshmi N Mittal’s Mittal Energy Investments and Hindustan Petroleum Corp Ltd (HPCL), built the refinery in 42 months.

The refinery will produce fuel meeting Euro-III and IV standards and “reiterates our commitment to safeguarding our environment while pushing ahead with growth,” Dr. Singh said. “The products from this refinery will especially help in bridging the gap between demand and supply in the northern region of the country.”

Stating that the refinery sector in India has grown phenomenally, he said the nation has emerged as a refining hub with capacity increasing from 62 million tonne per annum in 1998 to 213 million tonne.

“We have sufficient refining capacity to enable us to export petroleum products,” the Prime Minister said.

Start-up of Bhatinda refinery will help boost India’s exports and may open fuel sales to Pakistan.

Pakistan allows imports of fuels including petrol and diesel from India, after removing non-tariff barriers on November 2. The distance between Bathinda and Lahore is about 100 miles.

Dr. Singh said, “We need to take steps to conserve our scarce energy resources. There is no room for inefficient and wasteful usage of fuel, be it petrol, diesel, kerosene or gas.”

He added, “We need to adopt better technology and consumers should be made aware of the benefits of fuel conservation.”

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Agencies
May 31,2020

Mumbai, May 31: Shiv Sena leader Sanjay Raut on Sunday alleged that the event held in Ahmedabad to welcome US President Donald Trump in February was responsible for the spread of coronavirus in Gujarat and later in Mumbai and Delhi, which some of his delegates had visited.

Raut also hit out at the Centre saying that the lockdown was implemented without any planning, but now the responsibility of lifting the curbs was left to the states.

The Sena MP said that despite the opposition BJP's attempts to pull down the Maharashtra Vikas Aghadi (MVA) government, there was no threat to it as its survival is the 'majboori' (compulsion) of all the three ruling allies- Sena, NCP and Congress.

"It can't be denied that the spread of coronavirus in Gujarat was because of the massive public gathering held to welcome US President Donald Trump. Some of the delegates, who accompanied Trump, also visited Mumbai, Delhi, which led to the spread of the virus," Raut said in his weekly column in Shiv Sena mouthpiece 'Saamana'.

On February 24, Trump along with Prime Minister Narendra Modi had taken part in a road-show in Ahmedabad, which was attended by thousands of people. After the road- show, the two leaders had addressed a gathering of over one lakh people at Motera cricket stadium, run by Gujarat Cricket Association (GCA).

Gujarat had reported its first coronavirus cases on March 20, when samples of a man from Rajkot and a woman from Surat tested positive for the disease.

Raut said that any move to pull down the Uddhav Thackeray-led MVA government and impose President's rule in the state citing its failure to curb the coronavirus pandemic would be suicidal.

"The state had witnessed how President's rule was imposed and lifted as per will six months ago," he said.

"If the handling of coronavirus cases is the basis of imposing President's rule, then it should be done in at least 17 states, including the BJP-ruled ones. Even the central government has failed to curb the pandemic as it had no planning to fight the virus," he said.

"The lockdown was imposed without any planning and now without any plan, the responsibility of lifting it has been left to the states. This chaos will further worsen the crisis," he said.

The Sena MP said that Congress leader Rahul Gandhi has made an excellent analysis of how the lockdown has failed.

"It is shocking that people can indulge in politics by demanding President's rule in Maharashtra for the rise in the coronavirus cases," he said.

BJP MP Narayan Rane had recently met Maharashtra Governor B S Koshyari and demanded imposition of President's rule in view of the the Shiv Sena-led state government's "failure" in tackling the coronavirus pandemic. However, the BJP had later said that it was not trying to destabilise the government.

Speaking about the stability of the government, Raut said that the survival of the MVA government was the 'majboori' (compulsion) of each of the three alliance partners.

"Even if there are internal conflicts among the ruling partners, there is no threat to the government as the allies know that its survival is the 'majboori' of each one of them," Raut said.

He said that the Devendra Fadnavis-led government, in which the BJP and Shiv Sena shared power, saw internal conflicts between the ruling allies, but it completed its full five-year term.

Slamming Fadnavis, who is now the Leader of Opposition in the Legislative Assembly, for predicting downfall of the MVA government saying it will fall on its own due to its internal bickering.

"If the Fadnavis government, which witnessed deep internal conflicts between BJP and Sena, didn't fall, how can this one collapse? The Fadnavis government survived despite the (Sena) ministers carrying their resignation letters in their pockets," Raut wrote.

Fadnavis, in an online media interaction held earlier recently, said he had no intention to destabilise the MVA government and said it would collapse on its own.

"What Fadnavis means is that all attempts (of the BJP) to create discord among the three allies and break the MLAs has failed. Now the opposition hopes that something would happen among the allies and the government would be fall apart," he said.

Raut said NCP president Sharad Pawar is the prominent leader, who laid the foundation stone of the "Thackeray sarkar", and only he can predict the future of the government.

"He continues to say the government is stable and even the Congress is not going anywhere. MVA legislators are not up for sale in horse-trading. Hence, if the opposition says that the government will fall, it is wrong," he said.

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News Network
June 24,2020

New Delhi, Jun 24: Over 1,500 urban and multi-state cooperative banks will be brought under the supervisory power of the Reserve Bank of India (RBI), said Union Minister Prakash Javadekar on Wednesday.

"Government banks, including 1,482 urban cooperative banks and 58 multi-state cooperative banks, are now being brought under supervisory powers of Reserve Bank of India (RBI); RBI's powers as they apply to scheduled banks will apply for cooperative banks as well," Javadekar said at a press conference, through video conferencing.

"The decision to bring 1,540 cooperative banks under RBI's supervision will give an assurance to more than 8.6 crore depositors in these banks that their money amounting to Rs 4.84 lakh crore will stay safe," he added.

The Minister of Information and Broadcasting further said that the Union Cabinet has approved a scheme "for interest subvention of 2 per cent to Shishu loan category borrowers under Pradhan Mantri Mudra Yojana, outstanding as on March 31, 2020, for one year to eligible borrowers."

The Minister also said that the Union Cabinet has approved the declaration of Kushinagar Airport in Uttar Pradesh as an international airport.

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News Network
June 18,2020

New Delhi, Jun 18: India on Wednesday took strong exception to China claiming sovereignty over the Galwan Valley in eastern Ladakh, saying its "exaggerated and untenable claims" are contrary to the understanding reached on the issue between the two sides.

Ministry of External Affairs Spokesperson Anurag Srivastava's response came after China claimed that the Galwan Valley in eastern Ladakh is a part of its territory.

"As we have conveyed earlier today, External Affairs Minister and the State Councillor and Foreign Minister of China had a phone conversation on recent developments in Ladakh," Srivastava said late Wednesday night.

"Both sides have agreed that the overall situation should be handled in a responsible manner and that the understandings reached between Senior Commanders on 6th June should be implemented sincerely. Making exaggerated and untenable claims is contrary to this understanding," he said.

Earlier on Wednesday, India delivered a strong message to China that the "unprecedented" incident in the Galwan Valley will have a "serious impact" on the bilateral relationship and held the "pre-meditated" action by Chinese army directly responsible for the violence that left 20 Indian Army personnel dead.

In a telephonic conversation, External Affairs Minister Jaishankar conveyed to his Chinese counterpart Wang Wi India's protest in the "strongest terms" and said the Chinese side should reassess its actions and take corrective steps, the Ministry of External Affairs said.

The Chinese Foreign Ministry, in a statement, said the two sides agreed to "cool down the situation on the ground as soon as possible", and maintain peace and tranquillity in the border area in accordance with the agreement reached so far between the two countries.

The clash in Galwan Valley on Monday night is the biggest confrontation between the two militaries after their 1967 clashes in Nathu La in 1967 when India lost around 80 soldiers while over 300 Chinese army personnel were killed.

The India-China border dispute covers the 3,488-km-long LAC. China claims Arunachal Pradesh as part of southern Tibet, while India contests it.

Prior to the clashes, both sides have been asserting that pending the final resolution of the boundary issue, it is necessary to maintain peace and tranquillity in the border areas.

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