PM Narendra Modi for cut in petroleum imports, says Nitin Gadkari

Prime Minister Narendra Modi has asked the Petroleum Ministry to find out ways to reduce petroleum imports and boost domestic output, Union Transport Minister Nitin Gadkari said on Wednesday.

India's petroleum imports bills are to the tune of a staggering Rs 6 lakh crore per annum.

One alternative for this is promoting bio-fuels, which has the potential to bolster economic growth and solve complex agricultural problems faced by the country, he said addressing a CII event on 'Biofuels'.

It will also help prevent farmer suicides, he added.

"The Prime Minister was telling to Petroleum Ministry you find out a way and increase your production for petroleum products and that is how we can stop this imports.... We need to be self-reliant as far as petroleum sector is concerned," Gadkari said.

Country's petroleum imports bills are to the tune of a massive Rs 6 lakh crore per annum, he said, adding green fuels such as ethanol, bio-diesel and bio-gas could change the face of rural India by addressing the agricultural crisis.

"In my area, there are more than 10,000 suicides by farmers. Making diesel and gas in rural areas can be a good option. This is the need of the country and in true sense this is 'Make in India'," he said.

Bio-fuel such as ethanol from sugar can "really be a great ray of hope for poor people" he said, cautioning the industry at the same time that there was no use of convincing the Petroleum Ministry in this connection.

"My previous experience about this Petroleum Ministry, majority of them are against this bio-fuel, I dont know why? My suggestion is don't waste your time in convincing these people," he said.

Referring to the Cabinet decision to allow direct sale of bio-diesel by manufactures, Gadkari said when the note was floated by the Petroleum Ministry, there was a suggestion to allow this sale to bulk consumers only.

On his intervention, he said "the Prime Minister had to say if (Gadkari) is asking you (Petroleum Minister) what is your problem. If anybody is using the biodiesel what is your problem."

Later, the Cabinet took a decision to give this biodiesel to anybody who wants to use it as far as standards and norms are there, he said, adding "for last two months still we are getting the order."