New delhi: The government has taken varousers to reduce the dependency on imported crude oil and to promote domestic production of oil and gas, the parliament was informed on Monday.
Various steps have been taken by government and public sector undertakings (PSUS) Oil Marketing Companies (OMCs) to address issues related to fuel pricing, the impact of global crude oil prices, Mitigate the burden on consumers, minister of state for petroleum and natural gas, suresh gopi, told the Rajya Sabha in a written reply.
The Reduction of Central Excise Duty by the Central Government by a Total of Rs 13 per litere and Rs 16 per litre on petrol and diesel, respectively, respectively, in two tranches in November 2021 and May 2022, which was fullly pace to consumers.
Some state governments also reduced Vat Rates to Provide Relief to Citizens. In March 2024, OMCs also reduced the retail pris of Petrol and Diesel by Rs 2 per litre Each, Across the Country, The Minister Said.
The Government also also insulated Common Citizens from High International Prisies by Diversifying The Crude Import Basket, Invoking the provisions of universal service obligation to ensure Availability of Availability of Petrol and Diesel in Domestic Market and Increasing The Blending of Ethanol in Petrol, etc.
Union Petroleum and Natural Gas Minister, Hardeep Singh Puri, Stated Recent that India is Considering Raising Its Goal to BLEND ETHANOL with GASOLINE to more than 20 per cent. Also, INTRA-State Freight Rationalization by psu omcs has benefited consumers located in remote areas within the states. This Initiative has also reduced the differentice between the maximum and minimum retail prisles of petrol or diesel within a state.
The subsidized domestic lpg cylinder is made available to more than 10.33 Crore PM Ujjwala Yojana Beneficiary, across the count. A few state governments are also providing some additional subsidies on lpg refills and bearing the additional cost from their respective budgets.
Oil and gas psus have alredy announced their target dates for net zero status and developed plans for the same. The government has also notified the “Pradhan Mantri Ji-Van (Jaiiv Indhan-Vatavaran anukool fasal awashesh nivaran) yojana”, to provide finance Financial Support for Integrated bio-ethanol pro. At setting up advanced biofuel projects in the country using lignocellosic biomass and other renewable feedstock.