A High Level Committee (HLC) has submitted recommendations to bring down India’s dependence on crude oil imports. “HLC clearly brought out the strategy to reduce the import dependency of the nation in the report. The Committee has recommended short term, medium term and long term strategies,” an official statement said.
The centre had constituted a High Level Committee to examine the issues relating to preparation of action plan to create synergy among R&D Centres of Oil & Gas PSUs; tax issues and ways to benefit from GST by the Oil & Gas PSUs; merger, acquisition and consolidation of Oil & Gas PSUs and the Joint Ventures; explore the need and possibility of formation of new entity dealing with oil services and supply of qualified manpower to Oil & Gas sector around the world. Read More