Government says it will create a conducive environment to tap investments in the Oil and Gas sector. Talking to reporters after taking over as Petroleum Minister, Veerappa Moily said, that the objective will be achieved by expeditious decisions on policy matters. The Minister added that the sector has potential to attract 50 billion U.S. dollars worth as investment. Hinting to take the reform agenda forward and encourage cash rich state oil firms to invest, Mr. Moily said inefficiency has to be removed. An amount of 45,000 crore rupees is expected to be invested by the public sector oil companies in the 12th plan period.

Talking to reporters the new Railway Minister, Pawan Kumar Bansal said if railway fares are increased it will be for providing better services to the passengers. Mr. Bansal said, the improvement in services will have to be commensurate with the increase in fare.

New Information and Broadcasting Minister, Manish Tiwari said he will try to evolve a consensus on all contentious issues to move forward. He said paid news is a serious issue and has to be discussed with all stakeholders including political parties for consensus.

S Jaipal Reddy this evening took over the charge of Science and Techonology ministry.