Indian - Politician | January 12, 1940 -
By 2020, 50 percent of imports should be reduced, which should become 75 percent by 2025. By 2030, India should be energy independent.
Veerappa Moily
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We need to do more to conserve fuel or face tougher choices such as steep price increase or even quantitative restrictions.
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India has large proven reserves of gas that remain unexploited.
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The consumption of petroleum should be conserved. We need to adopt some austerity measures. The people should cooperate with us.
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If I can save 25 billion dollars in terms of reduction of import, I will be adding one percent to the GDP. By conserving the oil energy by the people, the GDP will become 5.5 percent, and this will change the economy of the country.
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We as a nation have no choice but to conserve fuel to the best of our abilities or be prepared for harsh measures like steep price increase, if the need so arises.
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There are people with vested interest who do not want us to reform our energy sector so that we remain dependent on imports. All reform moves are resisted. Bureaucrats are hesitant to take bold decisions.
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Those who know me would tell you, 'Moily can't be cowed down.' I have plans to enhance domestic oil and gas production.
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As the law minister, I had ensured that the government's right to natural resources was protected. The result was evident. The honourable Supreme Court gave the landmark decision in RIL vs RNRL case that the government is the owner of all natural resources.
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