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 today took over the charge of Ministry of Science and Technology and Earth Sciences. Speaking to reporters in New Delhi, Mr Reddy said that he has no regrets about his new portfolio. He said Prime Minister Dr Manmohan Singh has taken him into confidence over the reallocation of portfolios. Mr Reddy said that his efforts have always been to be a faithful party worker and a truthful minister. Replying to repeated questions by the media about the change in his portfolio, Mr Reddy categorically made it clear that in his life, he had never bargained for portfolios.
Referring to his new ministry, Mr Reddy said over 60 thousand 800 crore rupees have been earmarked for Science and Technology in the 12th Five year plan. He said his ministry will achieve the target of increasing the researchers from the present 1.54 lakh to 2.5 lakh in the 12th plan. The Minister is hopeful of raising the rank of India in the field of science and technology to 5th from the present 9th rank.
