India produced 36.43 billion cubic meters (BCM) of gas in the financial year 2023-24. On this major achievement of the country, Prime Minister Narendra Modi on Sunday praised India’s ‘self-reliance’ in the field of energy. PM Modi wrote on his official X account, “Many congratulations to the countrymen for this achievement! Our self-reliance in the field of energy is very important in achieving the resolve of developed India. This record of gas production is a direct proof of our commitment in this direction.”
Union Minister Hardeep Singh Puri shared the figures
Union Petroleum and Natural Gas Minister Hardeep Singh Puri had said in an ex post that the country has achieved a new record in the field of gas production. Gas production was 28.7 BCM in 2020-21. It has been increased to 36.43 BCM in 2023-24. In the data shared by the Union Minister, it has been estimated that the gas production by India in the year 2026 will be 45.3 BCM.
The Union Minister wrote on Twitter, “The figures are proof. Under the guidance of Prime Minister Narendra Modi, India is moving ahead with new energy, new enthusiasm and new resolve. In this sequence, the country has further accelerated the pace of self-reliance by creating a new record in the field of gas production.”
India is the only country where fuel prices have come down
Earlier on July 29, Hardeep Singh Puri had said that India is the only country where fuel prices have actually come down. In response to a question asked in Parliament, Puri had said, “Today fuel prices in India are the lowest and this is the only country where prices have actually come down in the last 2.5-3 years. This achievement is a result of the bold, ambitious and visionary decisions taken by our Prime Minister.”
Oil marketing companies determine the prices of petrol and diesel
The Union Minister highlighted that petrol and diesel prices were deregulated in 2010 and 2014. He emphasised that deregulation means that fuel prices are determined by oil marketing companies instead of being set by the government.
Reflecting on the decisions taken by the previous government, Hardeep Singh Puri mentioned the issuance of oil bonds worth Rs 1,41,000 crore, which requires payments of Rs 3,20,000 crore today. He stressed that the current government is committed to ensuring fair fuel prices but is constrained by the deregulated nature of the sector.
Latest Business News
