New Delhi (NVI): “Natural gas along with aviation turbine fuel (ATF) may soon be included in the Goods and Services Tax (GST) fold,” said Dharmendra Pradhan, Union Minister of Petroleum & Natural Gas and Steel.
Speaking at the second edition of India Gas Infrastructure Conference 2019 organised by FICCI, Pradhan said that the GST (on natural gas) is not too far. Both ATF and natural gas have long been desired under GST.
“The country needs 600 MMSCMD gas to achieve the target of 15 per cent share in India’s total energy consumption by 2030.The government is also giving priority to city gas distribution (CGD), compressed natural gas (CNG) and piped natural gas (PNG), ” Pradhan said.
“We are investing $60 billion in building gas pipeline and terminal infrastructure,” Minister said.
“Innovation is the key to growth in the energy sector and all must focus on promoting and adopting natural gas, bioenergy, renewable and other clean, sustainable sources of energy,” he added.
“Just like natural gas, bioenergy also possesses huge potential, especially in addressing the rising environmental concerns and providing a solution to the menace of air pollution. For this, 500 LOIs have already been issued to set up compressed bio gas (CBG) plants across India by the government,” he further added.
Speaking on the occasion FICCI President Sandip Somany said that the country’s policies towards greening the energy mix is taking place in the past couple of years with coal and oil usage reducing, giving way to renewables, gas and electric mobility.
While, speaking former CMD of GAIL (India) Ltd and Chairman of FICCI Hydrocarbons Committee BC Tripathi said that the retail sector will play the anchor role for natural gas 4-5 years down the line. Natural gas has to play a critical part when we are striving to become a $5 trillion economy.
“The recent reforms will bring in almost $90 billion investment along the gas value chain with almost $40 billion alone in the infrastructure,” he added.
During the event FICCI also released a joint report with Ceresta on India gas infrastructure titled ‘Indian Gas Sector – Ushering in an era of Growth’.
-sb
