October 29, 2012 12:02 PM

printer

Oil Minister Moily promises expeditious decision making and conducive foreign investment policy

Oil Minister M Veerappa Moily has promised expeditious decision making as he set a target for more than tripling of oil consumption in the country to boost economic growth. After taking over as Minister of Petroleum and Natural Gas in New Delhi today, he said his ministry will soon bring out a road map for bringing consumption up to 6 barrels per person per year. Calling it a matter of grave concern, Moily said, average worldwide oil consumption is 14 barrels per person per year while that in developing countries it is three barrels per person per year. In India the picture is not so happy with a consumption of 1.2 barrels per person per year.Listing out priorities, Moily said investment policy has to be made conducive for foreign investment and delays in decision making avoid it.

Most Read
View All arrow-right

No posts found.