NEW DELHI: Prime Minister Narendra Modi on Wednesday blamed former incumbents for relying heavily on imports to meet India’s energy demand even as gasoline prices, for the first time, Wednesday crossed the 100 Rs per liter mark in Rajasthan.
“Can a diverse and talented nation like ours be so dependent on imported energy? .. I don’t want to criticize anyone, but I want to say that if we had focused on this topic much earlier, our middle class would not be, ”Modi said at an online event to inaugurate projects oil and gas companies in Tamil Nadu.
The price of normal gasoline crossed the Rs 100 per liter mark in Rajasthan on Wednesday after fuel prices were increased for the ninth day in a row. Earlier in the week, prices for branded gasoline or additives had crossed the 100 rupee mark in parts of Maharashtra, Madhya Pradesh and Rajasthan.
Without referring to this continued increase, linked to a recent rise in international crude prices and record tax levels, Modi said India imported more than 85% of its oil needs during the fiscal year. 2019 – 20 and 53% of its gas. requirement. He added that the BJP government is sensitive to the concerns of the middle class and that India is seeking to reduce its dependence on imported energy and diversify its sources to reduce risks.
The sharp rise in fuel prices has sparked criticism of the Modi-led government, with opposition parties blaming the high taxes on fuel. Central and state taxes account for about 60 percent of the retail price of gasoline and over 54 percent of diesel.
The Center had increased excise duties twice in 2020, which was followed by increases in state value added taxes. Modi also spoke about increasing the share of renewables and increasing the levels of ethanol blending. “By 2030, 40% of all energy will be produced from green energy sources,” he said.
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