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Malaysia Sun
19-07-2025
- Business
- Malaysia Sun
"Over 10.33 crore women got LPG connections under PM Ujjwala scheme": Hardeep Singh Puri
Durgapur (West Bengal) [India], July 19 (ANI): Union Petroleum and Natural Gas Minister Hardeep Singh Puri said that over 10.33 crore women have been provided with free connections of Liquefied petroleum gas (LPG) under the Pradhan Mantri Ujjwala Yojana (PMUY). He stated that there were 14 crore LPG connections in 2014, and the number of connections has increased to 33 crore as of 2025. 'LPG Connection: Year 2014 - 14 crore and Year 2025 - 33 crore,' Puri said while addressing the gathering here, adding, 'Under the guidance of PM Narendra Modi, the past 11 years have brought an LPG revolution that has ushered in a new wave of change in every sector.' The Union Minister stated that the cost of a cylinder in India was merely Rs 553, which was lower compared to other LPG-producing countries, such as Sri Lanka and Pakistan. 'As part of this, under the PM Ujjwala scheme, more than 10.33 crore women have been provided free connections. Even today, they get a cylinder for just Rs 553, which is lower than in other LPG-producing countries,' Puri said. 'In contrast, the same cylinder costs Rs 1,204 in neighbouring Sri Lanka, Rs 1,201 in Nepal, and Rs 1,000 in Pakistan,' he added. Puri said that the number of beneficiaries under the Pradhan Mantri Ujjwala Yojana exceeds 1.25 crore. 'This revolution has not only improved women's health but has also become a significant means of job creation. Clean fuel is now present in almost every kitchen in every country,' he added. In a veiled attack on the Mamata Banerjee-led West Bengal government, Puri on Friday reiterated that petrol and diesel prices in non-BJP states are ruling above that of BJP-run states. Speaking in Durgapur, with Prime Minister Narendra Modi alongside on the dais, Minister Puri said petrol and diesel prices are Rs 7-8 per litre lower in BJP-ruled states. 'Our government under PM Modi did not allow fuel prices to rise. In November 2021, May 2022, and March 2024, the central government reduced cess on petrol and diesel, cumulatively by Rs 13 and Rs 16,' the minister said. 'On top of that, our BJP-ruled states also reduced VAT on fuel. In BJP states, petrol and diesel prices are ruling Rs 7-8 per litre lower than non-BJP states,' Minister Puri added. In a major boost to Oil and Gas infrastructure in the region, the Prime Minister laid the foundation stone for Bharat Petroleum Corp. Ltd (BPCL) City Gas Distribution (CGD) project in Bankura and Purulia districts of West Bengal, worth around Rs 1,950 crore. It will provide PNG connections to households, commercial establishments and industrial customers, and provide CNG at the retail outlets and also create employment opportunities in the region. The Prime Minister also dedicated to the nation the Durgapur to Kolkata section (132 Km) of the Durgapur-Haldia Natural Gas Pipeline, which has been laid as a part of the ambitious Jagdishpur-Haldia and Bokaro-Dhamra Pipeline, also known as the Pradhan Mantri Urja Ganga (PMUG) Project. (ANI)
Time of India
17-07-2025
- Business
- Time of India
Andaman exploration could yield Guyana-like offshore fields: Puri
New Delhi: The Andaman Basin holds the potential for major offshore oil discoveries on the scale of the Guyana basin, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Thursday at Urja Varta 2025. 'I am positive we will find several fields of the size of Guyana, particularly in the Andaman Sea,' Puri said during a fireside chat session at the event. The Minister linked the confidence to India's access to high-quality geoscientific data, robust regulatory support, and de-risking policy incentives aimed at attracting upstream investments . He said the basin is expected to play a central role in India's deepwater exploration roadmap. Puri also spoke about the expansion and modernisation of India's seismic database, extensive seismic surveys , and the digitisation of upstream data through the National Data Repository to improve investor access and transparency. The second edition of Urja Varta, organised by the Directorate General of Hydrocarbons under the Ministry of Petroleum and Natural Gas , brought together over 700 delegates, including Union and state ministers, industry leaders, and domain experts.
Indian Express
17-07-2025
- Business
- Indian Express
US plans sanctions on Russia's trade partners: The full picture for India, explained in 3 points
Union Petroleum and Natural Gas minister Hardeep Singh Puri Thursday (July 17) dismissed concerns about possible US sanctions impacting India's oil trade with Russia. 'India has diversified the sources of supply and we have gone, I think, from] about 27 countries that we used to buy [oil] from to about 40 countries now… If something happens, we'll deal with it,' Puri said at an event in New Delhi.' On the same day, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal spoke about 'double standards'. 'Let me reiterate that securing the energy needs of our people is understandably an overriding priority for us. In this endeavour, we are guided by what is available in the markets and also by prevailing global circumstances. We would particularly caution against any double standards on the matter.' The comments come in response to NATO chief Mark Rutte recently saying that countries buying oil from Russia could face secondary sanctions from the US as it seeks to bring Moscow to the negotiating table to end the Ukraine war. What exactly is this latest sanctions threat, and how far can it impact India? We explain, in 3 points. US President Donald Trump, who had for long been soft on Russia's Vladimir Putin and berated Ukraine's Volodymyr Zelenskyy, is showing signs of changing course. 'My conversations with him are very pleasant, and then the missiles go off at night,' Trump said about Putin recently. Thus, the US has now authorised a plan of arming Ukraine, which involves European countries buying weapons from the US and giving them to their beleaguered neighbour. On the other hand, Russia has been given a deadline of 50 days to end the war, failing which it will be subjected to increased economic pressure, including sanctions on its trading partners. 'Tariffs at about 100% — you'd call them secondary tariffs,' Trump said earlier this week. His administration later clarified he meant sanctions, not tariffs. Then on Wednesday (July 16), NATO chief Rutte said about the proposed sanctions, 'My encouragement to these three countries, particularly is, if you live now in Beijing, or in Delhi, or you are the president of Brazil, you might want to take a look into this, because this might hit you very hard… So please make the phone call to Vladimir Putin and tell him that he has to get serious about peace talks, because otherwise this will slam back on Brazil, on India and on China in a massive way.' Apart from what Trump has threatened, the US Congress is working on a Bill to put 500% tariffs on buyers of Russian energy. The West's sanctions on Russia so far have not damaged its economy severely because it continues to trade with the rest of the world, majorly with India and China, along with Brazil, Turkey, and others. Should India worry? India and Russia do have a high volume of bilateral trade. According to the Indian embassy in Russia, 'Bilateral trade between India and Russia reached a record high of USD 68.7 billion in FY 2024-25, nearly 5.8 times higher than the pre-pandemic trade of USD 10.1 billion.' While major Indian exports to Russia include agri-products (fish, shrimp, rice, tobacco, tea, coffee, grapes), chemical products, pharmaceuticals, and iron and steel, the major imports are oil and petroleum product, fertilisers, bituminous substances, mineral fuels, mineral waxes, etc. India started buying oil in bulk from Russia after the West put sanctions on Moscow in 2022 and it lowered the prices for willing buyers. In May this year, India imported crude worth $4.42 billion, petroleum products worth $441 million, and coal, coke and briquittes worth $387 million, as per The Observatory of Economic Complexity (OEC), a data visualisation platform. However, as Puri said, India can turn to other sellers if the US hits it with damaging sanctions for buying oil from Russia. Also, many are debating if Trump will actually impose the sanctions he is threatening. India and the US are in talks for a trade deal, which these measures will derail. Additionally, Russia's main trade partner is China. It is unclear if the US has the appetite for another trade war with Beijing, after the mutually bruising round played out in the past few months. Any sanctions on buying oil will shake up the global energy market and bring some pain on the US and its allies too. What is the reaction to the new Trump proposals in the West? While many believe that Trump is finally batting for the right team, after targetting Zelensky for months and refusing to commit to more aid, they worry that the 50-day deadline will allow Russia to capture more territory in Ukraine and strengthen its negotiating position considerably. There are also concerns that the proposals are scant on details and definite timelines. On the other hand, the hardline MAGA (Make America Great Again) faction, so far Trump's loyalists, are upset that the President is moving away from his campaign promise of not getting involved in other people's war. Yashee is an Assistant Editor with the where she is a member of the Explained team. She is a journalist with over 10 years of experience, starting her career with the Mumbai edition of Hindustan Times. She has also worked with India Today, where she wrote opinion and analysis pieces for DailyO. Her articles break down complex issues for readers with context and insight. Yashee has a Bachelor's Degree in English Literature from Presidency College, Kolkata, and a postgraduate diploma in journalism from Asian College of Journalism, Chennai, one of the premier media institutes in the countr ... Read More
India.com
13-07-2025
- Business
- India.com
India hits massive JACKPOT, may become super rich, GDP will increase 5 times; the treasure is..., tension for US, China due to...
Representational Image India oil reserves: India is close to discovering gigantic reserves of crude oil in the Andaman Sea, a find that is expected to catapult the Indian economy to over $20 trillion, and increase the country's GDP by as much as five times. According to Union Petroleum and Natural Gas Minister Hardeep Singh Puri, India is close to locating this massive reserves which is estimated to hold about 2 lakh crore liters of crude oil. How the discovery would boost Indian economy? India is the third-largest importer of crude oil, relying on imports to meet at least 80 percent of its oil and gas needs. However, if India manages to extract the huge reserves of oil from the Andaman Sea, it will not end the country's dependence on oil imports, but could potentially make it a net exporter of crude and gas. Puri said India is close discovering crude oil and gas in an area of 2.5 lakh square kilometers in Andaman, and drilling efforts have been intensified to accelerate the process. The area is nearly the size of Guyana, which has reserves of 11.6 billion barrels of oil and gas, and if India can get its hands on oil reserves of that magnitude, it is projected to catapult the Indian economy to above $20 trillion from the current $.3.7 trillion, and boost the current GDP by at least 5 times. Why US, China are concerned? The United States and China are two of the predominant global economic and military superpowers today, and a crude oil discovery of the magnitude India is talking about, is likely to shift the geopolitical power balance by a significant margin as New Delhi could potentially emerge as a new power centre that can challenge American and Chinese dominance. US is largest consumer of crude oil in the world, but it is also the largest producer of this key resource whose prices directly impact the global economy by affect inflation of essential items. Thus, India discovery a massive oil reserves would pose a significant challenge to dominance of the US and other world powers such as China and Russia.
Time of India
01-07-2025
- Business
- Time of India
Crude oil prices back at $67/barrel, likely to remain stable: Minister Puri
Hardeep Singh Puri says crude oil prices are stable. They are around USD 67 per barrel. India is diversifying its oil sources. It now buys from 40 countries. The nation is also increasing biofuel blending. Puri highlights India's economic growth. He mentions the Ujjwala Yojana's success. He urges chartered accountants to embrace AI. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday said crude oil prices are back at USD 67 per barrel and are likely to remain around that at the 77th Foundation Day of the Institute of Chartered Accountants of India (ICAI), Puri also said India increased biofuel blending and is sourcing crude oil from 40 countries as against 27 said when the tensions were at their peak in the Gulf region recently, many tried to be alarmist about the crude oil prices moving northwards."I said nothing will happen. Oil prices sahi rahenge (will remain stable). Don't worry. And the price of oil is back to USD 67 a barrel. Why do I say that? ...there is enough oil available in the world," the minister Puri added India has diversified its crude oil sourcing."We used to buy oil from 27 countries, we are buying it from 40 countries," he minister also spoke in detail about the achievements made by the country in bio-fuel blending, and meeting targets ahead of schedule."We are the second-highest biofuel blending nation in the world. And today, when I look at it, any day you could raise it from 20 per cent to 25 per cent and 30 per cent. You have to just do your consultation and take what is along," he further said green hydrogen is the fuel of the his address, the minister also listed the achievements of the Modi government during the past 11 said the ministry's flagship Pradhan Mantri Ujjwala Yojana , has delivered over 16.5 crore LPG connections since 2014, empowering women, reducing indoor air pollution, and promoting public growing market capitalisation of Oil & Gas PSUs-nearly doubling to Rs 8.79 lakh crore since 2014-reflects the sector's robust performance and the trust of investors, he further said that in the past 11 years, India has risen from the eleventh to the fourth largest economy in the said India's GDP has more than doubled-from USD 2.1 trillion in 2014 to USD 4.3 trillion in 2025."We have recently overtaken Japan and are poised to become the third-largest economy by 2030, overtaking Germany," the minister said while highlighting the country's resilience during global headwinds and the critical role played by bold policy reforms, extensive social welfare schemes, and sound financial Minister called on chartered accountants to embrace artificial intelligence and advanced analytics, automating routine tasks to focus on strategic advisory roles and harnessing data-driven insights for more effective decision-making."Embracing AI is no longer optional-it is essential for staying competitive and innovative in today's evolving financial world," he urged the ICAI community to uphold transparency, efficiency, and accountability as India marches towards a developed nation by at the occasion, ICAI President Charanjot Singh Nanda said that from 1700 members to over 4 lakh members spanning across 47 countries, the Institute of Chartered Accountants of India has grown a long way in the last 77 years."As a trusted partner in nation building ICAI has always supported the Government initiatives contributing to India's journey towards becoming a Viksit Bharat. Our profession is evolving rapidly, with AI, blockchain, and big data, the tools may change, but our values must remain constant," Nanda said.
