A High-Level Committee constituted by the Centre has submitted its recommendations to bring down India’s dependence on crude oil imports.
About:
Composition: The High-Level Committee consisted of Dr Anil Kakodkar, eminent Scientist and Sidharth Pradhan, an expert on financial and tax issues.
Mandate: It was setup to examine the issues relating to the –
preparation of action plan to create synergy among Research and Development Centres of Oil and Gas Public Sector Undertakings,
tax issues and ways to benefit from GST by the Oil and Gas PSUs,
merger, acquisition and consolidation of Oil and Gas Public Sector Undertakings and the Joint Ventures and
Formation of new entity dealing with oil services and supply of qualified manpower to the Oil and Gas sector around the world.
Recommendations: It has recommended short term, medium term and long term strategies in the report, clearly bringing out the strategy to reduce the import dependency of the nation.
Way ahead: Ministry of Petroleum and Natural Gas will consider the recommendations submitted by the Committee while formulating policies.
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