PM Modi's self-reliance target might prove a daunting task
Prime Minister Narendra Modi last week announced, to huge applause, that India must aim to reduce its dependence on imports for meeting its energy needs by 50 per cent over a decade and a half. But realising this self-reliance goal might prove daunting. Exploration and production from blocks awarded under the New Exploration Licensing Policy (Nelp) have been less than satisfactory; and private oil firms have lowered their capital expenditure plans amid subdued global crude oil price sentiment, further stagnating domestic production. Modi said India’s ..