Jaipur/Hyderabad, July 4 (Maxim News): Prime Minister Narendra Modi on Saturday said the Centre absorbed fuel-related losses of over ₹75,000 crore to protect citizens from the impact of soaring global energy prices during the recent West Asia crisis.
Addressing a public gathering after inaugurating the Pachpadra Greenfield Integrated Refinery-cum-Petrochemical Complex in Rajasthan’s Balotra district, the Prime Minister said India’s proactive energy strategy, diversified fuel imports and strong diplomatic engagement helped the country successfully navigate one of the world’s biggest energy crises.
Modi also laid the foundation stone for multiple development projects during his visit.
‘Government Reduced Excise Duty to Ease Burden’
The Prime Minister said India significantly diversified its energy import sources during the crisis.
“When the crisis began, India was importing energy from about 25-26 countries. During the crisis, we increased this to more than 40 countries,” he said, attributing the expansion to India’s diplomatic efforts.
Modi said public sector oil companies incurred losses exceeding ₹75,000 crore between April and June due to rising international crude oil prices.
“We reduced excise duty by ₹10 per litre and ensured that the burden on citizens did not increase significantly,” he said.
He also criticised those who, according to him, spread misinformation and predicted economic setbacks for India during the crisis.
India Expanding Energy Capacity
Highlighting India’s energy sector growth, Modi said the country has become the world’s fourth-largest refining hub and continues to expand its refining capacity.
He said the government’s long-term energy policies helped India overcome disruptions in fuel and fertiliser supplies caused by geopolitical tensions, including the conflict involving Iran and the US-Israel alliance.
Emphasising the importance of self-reliance, Modi said a nation can preserve its self-respect only by becoming economically and strategically independent.
Rajasthan’s First Greenfield Refinery
The Prime Minister inaugurated the country’s first greenfield integrated refinery-cum-petrochemical complex at Pachpadra, which is also Rajasthan’s first refinery of its kind.
After touring the facility, Modi inaugurated the project by pressing a remote button.
He also alleged that work on the refinery had virtually come to a standstill during the previous Congress government in Rajasthan between 2018 and 2023, while asserting that BJP governments ensure projects are completed after laying their foundation stones.
Now you can get the latest stories from Indtoday on Telegram every day. Click the link to subscribe. Click to follow Indtoday’s Facebook page, Twitter, and Instagram. For all the latest Hyderabad News updates and Follow us on GoogleNews
