Government Initiatives to Cut Reliance on Crude Oil Imports

11 Mar 2025 CW Team

To address fuel pricing challenges and mitigate the impact of global crude oil price fluctuations, various steps have been taken. The government reduced central excise duties on petrol and diesel in 2021 and 2022, with state governments also adjusting VAT rates. In 2024, Oil Marketing Companies (OMCs) reduced petrol and diesel prices by Rs 2 per litre. Other strategies include diversifying crude imports, enhancing ethanol blending, and rationalizing freight costs to benefit remote consumers. Subsidised LPG cylinders are provided to over 100.33 million PM Ujjwala Yojana beneficiaries, with additional state-level subsidies.

Public Sector Undertakings (PSUs) in the oil and gas sector are actively working toward achieving net-zero emissions. Their strategies include the adoption of cleaner fuels, implementation of Bharat Stage VI norms, biofuel promotion, expansion of gas-based energy, and investments in green hydrogen and EV infrastructure. Ethanol blending has significantly reduced CO2 emissions, and the Pradhan Mantri JI-VAN Yojana is supporting advanced biofuel projects to further enhance sustainability in the energy sector.

News source: PIB

The government has implemented several initiatives to reduce reliance on imported crude oil and enhance domestic oil and gas production. These measures include policies such as the Production Sharing Contract (PSC) regime for early monetization of hydrocarbon discoveries (2014), the Discovered Small Field Policy (2015), and the Hydrocarbon Exploration and Licensing Policy (HELP) (2016). Other key initiatives include the extension of PSCs (2016, 2017), the early monetization of Coal Bed Methane (2017), and the establishment of the National Data Repository (2017). Additional efforts include the appraisal of unassessed sedimentary basins under the National Seismic Programme (2017), incentives for enhanced recovery methods (2018), and reforms in natural gas marketing (2020). Moreover, the government has introduced lower royalty rates, relaxed revenue-sharing mechanisms, and released significant offshore areas for exploration. To address fuel pricing challenges and mitigate the impact of global crude oil price fluctuations, various steps have been taken. The government reduced central excise duties on petrol and diesel in 2021 and 2022, with state governments also adjusting VAT rates. In 2024, Oil Marketing Companies (OMCs) reduced petrol and diesel prices by Rs 2 per litre. Other strategies include diversifying crude imports, enhancing ethanol blending, and rationalizing freight costs to benefit remote consumers. Subsidised LPG cylinders are provided to over 100.33 million PM Ujjwala Yojana beneficiaries, with additional state-level subsidies. Public Sector Undertakings (PSUs) in the oil and gas sector are actively working toward achieving net-zero emissions. Their strategies include the adoption of cleaner fuels, implementation of Bharat Stage VI norms, biofuel promotion, expansion of gas-based energy, and investments in green hydrogen and EV infrastructure. Ethanol blending has significantly reduced CO2 emissions, and the Pradhan Mantri JI-VAN Yojana is supporting advanced biofuel projects to further enhance sustainability in the energy sector. News source: PIB

Infrastructure Transport

11 May 2026

Shivraj Chouhan Launches PMGSY IV and Announces Package for Madhya Pradesh

Union Minister Shivraj Singh Chouhan launched the Pradhan Mantri Gram Sadak Yojana (PMGSY) IV at Bhairunda in Sehore district during the 25 year celebrations and announced a development package for Madhya Pradesh. The programme was organised by the Union Ministry of Rural Development and attended by Chief Minister Dr Mohan Yadav, ministers of state, state ministers, legislators and senior officials from the centre and the state. The minister said the central government under the Prime Minister is committed to strengthening rural livelihoods through improved connectivity, housing and women's in..

Infrastructure Urban

11 May 2026

DMR Engineering Reports FY 25-26 Financial Results

DMR Engineering reported its half year results for the financial year ended 31 March 2026 and published full year figures on a standalone basis. Standalone revenue from operations decreased by 2.01 per cent year-over-year to Rs 102.58 million (mn), while profit after tax declined by 43.94 per cent to nine point five six mn, leaving a profit after tax margin of nine point zero five per cent. Earnings per share stood at Rs zero point nine two, a fall of 44.71 per cent year-over-year. The company attributed part of the decline to one-off provisioning for bad debts and additional financing charges..

Infrastructure Urban

11 May 2026

Atlanta Electricals Posts Strong FY26 Growth And Debt Free Finish

Atlanta Electricals reported audited consolidated results for the quarter and year ended 31 March 2026. The company recorded significant year-on-year revenue growth driven by capacity ramp-up at new facilities and higher utilisation at legacy plants. The announcement summarised operating improvements and strategic milestones achieved during the year. For Q4 the company reported revenue of Rs 7.48 bn and for FY26 revenue of Rs 18.52 bn, representing robust growth versus the prior year. EBITDA in Q4 was Rs. 1.49 bn and Rs. 3.44 bn for the full year, with margins expanding to 20 per cent in the q..