New Delhi, March 23
Prime Minister Narendra Modi stated on Monday that the government possesses a strategic petroleum reserve and is in the process of building more reserves. He also noted that over the past decade, the sources of energy imports have been hugely diversified.
"We have a strategic petroleum reserve of more than 53 lakh metric tonnes, and plans are underway to build another reserve of 65 lakh metric tonnes," PM Modi said on Monday, while briefing the Lok Sabha on the West Asia crisis and India's response to it.
The Prime Minister said that in the past 11 years, the country's energy imports have been diversified, reducing our dependence on any nation.
"Our refineries have seen sustained improvement in the past 11 years. Today, we import from 41 countries as compared to 27 countries in the past decade," PM Modi told the House, while reiterating the government's pledge to ensure uninterrupted supply of energy reserves, including petrol, gas and fertilisers in the midst of war.
He said the government has been keeping a close watch on shipping lines and maritime corridors and ensuring that gas, petrol, and fertilisers from source nations reach us on time.
"Many vessels, stranded in the Strait of Hormuz, have reached Indian shores in recent times," he told the House.
PM Modi said the nation has adequate food reserves, crediting the farmers for this and also informed about diversification in fertiliser imports.
"We have taken due steps to insulate the farmers against any global shocks. Urea plants have been set up while fertiliser imports have been diversified, reducing the country's dependence on any one supplier," he said.
In other steps taken to reduce dependence, organic farming is being encouraged while 22 lakh solar pumps have been given, leading to a reduction in farmers' woes, he said.
The Prime Minister said that the government, in recent years, has worked consistently on developing alternative energy sources, and this will go a long way in securing the nation's interests.
He said that the nation's ethanol blending capacity has improved significantly, and today, 20 per cent blending in petrol is being done.
"Railway electrification has improved greatly in the past few years. Had it not been done, it would have consumed an extra 180 crore litres of petrol," he said.
"From a 250 km stretch a decade ago, the Metro network has seen expansion to 1100 kms. In a bid to enhance electric mobility, the Centre has given 15,000 electric buses to states," PM Modi told the House.
Admitting that energy forms the backbone of the economy and West Asia remains its key source, PM Modi said the global economy is feeling shockwaves, but his government is committed to cushioning the countrymen against any such shock.
"All stakeholders are being consulted and given due support. The government and industry, with their collective effort, will help sail through the crisis," he said.
- IANS
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