India Spending ₹8 Lakh Cr On Petrol, Diesel Imports: Gadkari Amid Record High Prices

Mumbai: Union Minister for Road Transport and Highways Nitin Gadkari on Monday highlighted the concerns of increasing fuel prices and dependence on imports and urged people to switch to alternative fuel.

“I urged the investors to take interest in manufacturing ethanol and other cleaner and indigenous fuels to reduce dependence on import of the crude oil,” the union minister said.

He also mentioned that future public transport will witness a change and witness a major shift to alternative fuel.

“In electric vehicles, we have lithium-ion batteries. About 80 per cent of lithium-ion battery is being manufactured within the country. In the next six months, we will achieve 100 per cent of its manufacturing in the country. Its cost is also reducing,” he said.

He said that it will increase to Rs 25 lakh crore in the next five years if the trend of its utilisation continues.

“India currently spends nearly Rs 8 lakh crore on import of diesel and petrol, which may increase to Rs 25 lakh crore in next five years, if the trend continues. Diesel and petrol are not good for the environment,” Gadkari said, talking about the demand for diesel and petrol.

Expressing concerns over pollution, Gadkari said people of Delhi need not be told about the pollution that happens due to petrol and diesel.

Informing about the plight of state-run discoms Gadkari said the situation of state-run discoms are very bad and are running on losses. “In power, their principle is ‘more generation, more losses, no generation, no losses’,” he said.

“In the near future, India would need more power as there is a probability that economic growth of the country will accelerate. So, probably in December, January, February, March, April, and May, we may face the problem of power shortage,” he added.

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