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He highlighted the liberalisation in gas pricing and marketing which has been particularly in deep waters and requiring technology for high pressure high temperature exploitation.
Due to the emphasis on promoting energy efficiency and rationalization of gas pricing mechanism, highest ever urea production in the period so far has been achieved this year.
The Indian APA programme has been appreciated nationally and internationally for being able to address complex transfer pricing issues in a fair and transparent manner.
Further, to stimulate natural gas production in NER, Government has also allowed marketing including pricing freedom for natural gas to be produced from discoveries which are yet to commence production as on 1st July, 2018.
After the package announcement on 13th May, 2020, there were several representations that the announced revision is still not in tune with market and pricing conditions and it should be further revised upwards.
On creation of free gas market, the Minister said that the Government is progressively moving towards a marketing and pricing freedom regime in the country.
As a country, Shri Goyal added that, India should focus on Investment, Infrastructure, and Innovation in the post-covid world, by increasing the production, improving quality of products, trying higher economies of scale, smooth logistics channels, competitive pricing and using innovative practices.
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