Prime Minister Narendra Modi said on Wednesday that India is committed to bringing natural gas into the Goods and Services Tax (GST) regime to make prices cheaper and uniform across the country.
“We are committed to bringing natural gas under the GST regime; I want to tell the world come invest in India’s energy sector,” the prime minister added.
He said India was spending ₹7.5 lakh crore ($103.05 billion) over 5 years to build its oil and gas infrastructure, PM Modi said.
India looking to cut energy import dependence, diversify imports, said Modi. He said that India will generate 40% of all its energy from renewable sources by 2030.
In 2019-2020, India imported over 85% of oil and 53% of gas to meet domestic demand. “I don’t want to criticize anyone but I want to say, had we focused on these projects much earlier our middle class would not be burdened,” PM Modi added.
The prime minister earlier laid the foundation stone of various key projects of the oil and gas sector in Tamil Nadu via video conferencing.
Surjitt Sahani
