New Delhi: The government has taken various measures to reduce dependence on imported crude oil and promote domestic oil and gas production.
Suresh Gopi told Rajya Sabha in a written reply that the Government and Public Sector Enterprises (PSU) Petroleum Marketing Company (PSU) Petroleum Marketing Company (OMC) has addressed issues related to fuel pricing, the impact of global crude oil prices and the relief of consumers.
In the two drivers in November 2021 and May 2022, the central government reduced the central government’s consumption tax by Rs 13 per litre and Rs 16 per litre respectively, respectively, reducing the central government’s consumption tax to Rs 16 per litre respectively.
Some state governments have also lowered VAT rates to reduce relief for citizens. The minister said that in March 2024, OMC also reduced the retail price of petrol and diesel by Rs 2 nationwide.
The government also diversified crude oil import baskets, invoking provisions of universal service obligations, to ensure supply of gasoline and diesel in the domestic market and increase the mix of ethanol in the gasoline, thus protecting ordinary citizens from high-priced isolation.
United Oil and Gas Minister Hardeep Singh Puri recently said India is considering fusing it with gasoline to over 20%. Similarly, the in-state freight rationalization of PSU OMC benefits consumers located in remote areas within the state. The plan also reduces the difference between the highest and lowest retail prices of gasoline or diesel in the state.
More than 1.033 million PM Ujjwala Yojana beneficiaries across the country can receive subsidized domestic liquefied petroleum cylinders. Some state governments have also provided some additional subsidies for LPG subsidies and have assumed additional costs for their respective budgets.
Oil and Gas PSU has announced target dates for its clean status and has set out the same plan. The government also notified “Pradhan Mantri Ji-van (Jaiv Indhan-Vatavaran Anukool Fasal Awashesh Nivaran) Yojana” to provide financial support for the establishment of a comprehensive bioethanol project aimed at using Lignocellosic Biomass and other renewable Fornewable Forestock.
