JANATA DAL (UNITED)
7, Janatar Mantar Road,
New Delhi-110001
PRESS RELEASE
8th February, 2013
I have called you today
to express my concern on substantial spending of foreign exchange by Government
of India on import of expensive petroleum products. Instead of focusing
on import of expensive petroleum products, the Government should concentrate on
use of gas as replacement of coal and liquid petroleum products. As you are
aware, I have always expressed my great concern on judicious use of our
abundant amount of natural resources as I repeatedly mentioned at the time of
scam on allotment of coal blocks also. The use of indigenous gas can be
increased manifold if reliable gas supply is assured through development of new
blocks. The cost of such gas will be much cheaper than today’s gas price and
may be one fourth of imported gas. With the availability of indigenous
gas, there would be a scope of enormous growth in the industrialization, value
addition and overall economic growth in the country. There is a huge
potential in our country for extracting gas from coal and coal based blocks.
I would like to suggest that before starting
coal mining in a coal block, focus should be given on extracting gas from such
blocks either by way of underground coal gasification, CBM, shale gas
etc. The public sector undertakings engaged in energy sectors like CIL,
OIL, ONGC, GAIL and oil companies which have huge funds, should focus in
exploring and exploiting of energy sources in our country first rather than
spending huge money and time outside. Public Sector Enterprises in the
States also should be advised to focus on such initiatives. CIL, ONGC,
OIL have already got big mining areas with them and they may contribute maximum
by extracting gas through coal gasification, CBM, shale gas etc at various
locations. They may be allowed to extract gas on nomination basis
immediately. I am of the view that with this action of the Government, there
will be a big boost to economic development of these areas as most of these
locations are situated at economically underdeveloped/ developing areas.
The complete socio-economic scenario can be
changed in 6-7 years if such blocks are nominated to above companies with time
bound monitoring by a special cell for the purpose The right vision, policy
initiative and performance based implementation and monitoring is essential.
Subsequently, I am sure that many companies in private sector in India
and abroad will be interested to invest in this venture.
Further, I would like to suggest that the
preference may be given for allocation of blocks for their captive use to
sectors such as power, fertilizer, steel, metal, petrochemical, CNG, commercial
and domestic gas suppliers. It would be appropriate to allow fiscal benefits
and early development bonus to achieve benefits in the shortest possible time,
and the blocks which are already allotted for CBM/gasification and are delaying
the exploration, should be penalized. There should also be a policy to enhance
maximum possible initial capital outlay for exploration and exploitation of
energy sources and incentives for identifying resources, purchase of technology
and deployment of experts etc. There will be huge benefit and
achievements for the country if the gas sources are increased. In my view, the
advantages mainly such as reduction in import of crude oil, reduction in the
subsidy bill especially in fertilizer and diesel, reduction in import rate for
balance imports of crude oil, reduction in pollution as compared to coal/petroleum
products, reduction in use of land, high efficiency in use of gas, reduction in
operating cost etc. Besides all, the overall benefit would be less outflow of
foreign exchange from the country and industrialization would be increased
which in turn would provide more employment and entrepreneurship.
As I mentioned above, this is also in line with
my earlier statements that the Government of India should use its natural
resources in a judicious manner which will help in reducing the fiscal deficit
of the country. I would like that my above suggestions should be
considered by the Government for incorporation in the Finance Budget 2013 of
the country.
Sd/-
Sharad Yadav
Member of Parliament
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