PM Modi inaugurates oil and gas sector projects in Tamil Nadu, calls for investments in energy sector
“We are trying to eliminate the cascading effect of different taxes on natural gases on different states. We are committed to bring natural gas under the GST regime,” PM Modi said.
Prime Minister Narendra Modi on Wednesday laid the foundation stone for key oil and gas sector projects in Tamil Nadu via video conferencing. The Prime Minister began his address saying that the projects are important not just for the growth of Tamil Nadu, but also the entire country.
“We are trying to eliminate the cascading effect of different taxes on natural gases on different states. We are committed to bring natural gas under the GST regime,” PM Modi said, calling for global investors to invest in energy projects in the country.
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Emphasising the need for working towards clean and green sources of energy and to reduce the energy dependence, PM Modi asked, “In 2019-20, India imported over 85 per cent of oil and 53 per cent of gas to meet the domestic demand. Can a diverse and talented nation like ours be so energy dependent?”
During his address, the Prime Minister said, “Indian Oil’s 143-km-long pipeline from Ramanathapuram to Thoothukudi will monetise the gas from ONG gas fields. This is a part of a larger national gas pipeline project being developed at a cost of ₹4,500 crore. It will benefit Ennore, Thiruvallur, Bengaluru, Puducherry, Nagapattinam, Madurai and Thoothukudi.”
He further said, “95 per cent of Tamil Nadu’s LPG customers have joined the PAHAL scheme. Over 90 per cent of the active customers get direct subsidiary transfer under the Ujjwala Yojana. Over 32 Lakh BPL households have been given new connections. Over 31.6 lakh households benefited from free refills under the PM Garib Kalyan Yojana.”
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“In the past 6 years, oil and gas projects worth over ₹50,000 crore have been approved for implementation in Tamil Nadu. In the same period, projects worth over ₹9,100 crore sanctioned before 2014 were completed. In addition, projects worth over ₹4,300 crore are in pipeline,” he added.
Noting that Indian oil and gas companies are present in 27 countries with investments worth about ₹2.7 lakh crores, Modi said that a gas pipeline network to achieve ‘One Nation, One Grid’ is being planned. “We have planned to spend 7.5 lakh crores in creating oil and gas infrastructure over five years,” PM Modi said.
