'Centre to bring natural gas under GST regime; India's energy share increasing', says PM

Prime Minister Narendra Modi on Wednesday said that the Centre plans to spend Rs 7.5 lakh crore in creating oil and gas infrastructure over five years and has emphasized on the expansion of the city gas distribution network. Prime Minister in his address through video-conferencing asserted that the central government is committed to bringing natural gas under the Goods and Service Tax (GST) regime and asked the world to invest in India’s energy sector. 

Centre to bring natural gas under GST regime 

While dedicating and laying the foundation of key oil and gas projects in Tamil Nadu, PM Modi said, "We have plans to spend Rs 7.5 lakh crore in creating oil and gas infrastructure over five years. A strong emphasis has been laid on the expansion of the city gas distribution network by covering 470 districts. About 65.2 million tonnes of petroleum products have been exported. This number is expected to rise even further. Our companies have ventured overseas in the acquisition of quality oil and gas assets. We are committed to bringing natural gas under the GST regime. I want to tell the world to come and invest in India’s energy sector."

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PM Modi postulated that India will generate 40%  of all energy by 2030 from green energy sources. India is looking to cut energy import dependence and diversify imports. The central government is planning to become the leader in the solar power sector and is increasing focus on ethanol to help farmers and consumers, PM further added. 

PM Modi inaugurated gas and oil project in TN 

PM Modi on Wednesday inaugurated the Ramanathapuram-Thoothukudi section of the Ennore-Thiruvallur-Bengaluru-Puducherry-Nagapattinam-Madurai-Tuticorin natural gas pipeline in Tamil Nadu. Connecting through video conference at the event, the Prime Minister also dedicated the Gasoline Sulfur-Free (Desulfurization) unit of Manali-based Chennai Petroleum Corporation Limited to the nation and also laid the foundation stone of the Cauvery Basin Refinery at Nagapattinam.

The Ramanathapuram-Thoothukudi section will be 143 kilometers long. It has cost about 700 crores rupees. The project will help in utilizing the gas from the Oil and Natural Gas Commission (ONGC) gas fields and making natural gas available to industries and other commercial users. Construction of a gasoline sulfur-free unit has cost about Rs 500 crore. It is a unit of 8 ppm and is designed to produce less sulfur than environmentally friendly gasoline.

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