PM Modi's self-reliance target might prove a daunting task
8 April 2015
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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 ..