BETUL: PM Modi said- Government will spend Rs 11 lakh crore on infrastructure
Betul: Prime Minister Narendra Modi on Tuesday said the government has committed to spend Rs 11 trillion on infrastructure in the Union Budget and a major part of it will go to the energy sector.
Addressing the gathering of global energy leaders at the inauguration of the second edition of India Energy Week 2024 in Betul, PM Modi stressed India’s commitment to unprecedented levels of investment in the energy sector, and underlined that the sector has huge potential. But creation will happen through government expenditure. New avenues of investment in India.
“India is going to spend Rs 11 trillion on infrastructure. A large part of this will definitely go to the energy sector. You can see how India is continuously increasing its energy capacity.
Speaking on India’s central role in global energy markets, Modi said India, which is the third largest energy consumer, is also the world’s third largest oil consumer, fourth largest LNG importer, refiner and automobile market.
Emphasizing on increasing energy use and energy transition efforts, Modi said that sales of two and four wheelers in India are breaking records. “India’s EV demand is also increasing. “India’s energy demand is expected to double by 2045.”
Underscoring the government’s priority to provide affordable energy to all, Modi said, “Despite global factors, India is the only country where petrol and diesel rates have come down. It is because of such efforts that India is at the forefront in the energy sector today.”
Further, highlighting the government’s efforts to increase the use of solar energy, he said, “We have announced to install solar rooftops for one crore homes. The electricity generated from these houses will directly reach the grid. “The solar value chain offers great investment opportunities.”
“Our reforms have ensured that domestic gas use is increasing rapidly. Today India offers investment opportunities worth $67 billion as we increase the share of natural gas in our energy mix from 6% to 15%,” Modi said.
Union Petroleum and Natural Gas Minister Hardeep Singh Puri said that India is fast becoming an energy development hub for the world.
He said that the event is being organized at a critical juncture in the global energy sector, where it aims to effectively address the global energy challenges of ensuring energy availability, affordability and sustainability while giving priority to energy security.
Highlighting the major opportunities of the four-day event for the state, Chief Minister Pramod Sawant said the energy summit is an opportunity for Goa to emerge as a global energy hub.
Integrated Marine Survival Training Center
Earlier, the Prime Minister inaugurated the Integrated Marine Survival Training Centre, ONGC Institute at Betul and also witnessed a demonstration of a briefing and training center on underwater escape exercises.
After the inauguration, the Prime Minister posted on Twitter, “This state-of-the-art center is a significant moment for India in making its mark in the maritime survival training ecosystem. Offering rigorous and intensive emergency response training, it will ensure that many lives are saved in time.
The Prime Minister also shared a video outlining the need for a modern Marine Survival Center and said, “Here’s why we need a modern Marine Survival Center and how beneficial it will be for our country.
