Petroleum Minister Dharmendra Pradhan today said that this year World Bank 's appraisal report regarding Indian economy is quite encouraging and as per its report the economy is likely to touch 7.3 per cent growth this year. <br/>'<br/>Addressing a conference on Unleashing India's domestic Exploration and Production Potential in New Delhi, Mr Pradhan said, this report will encourage government to keep the momentum to a greater height and energy sector will play very crucial role in this regard. He said government is trying hard to reduce import dependency and working on bringing effective alternatives for energy consumption in the industry.<br/>'<br/>Reiterating the need of modern technology in power sector, he said, India can not become a world leader unless it follows world standard. He further said, petroleum products like diesel and petrol should be brought under GST regime.<br/>'<br/>Several issues including reduction of import dependency by 10 per cent, building a gas-based economy and potential challenges in this process were also discussed during the conference.<br/>