Working towards self-sufficiency in petroleum by 2030: Veerappa Moily
"We are working with a programme that by 2020, 50 per cent of import of petroleum should be stopped and 75 per cent imports should be stopped by 2025. By 2030, the country must become self sufficient in petroleum," he said after signing of an MoU with Hindustan Petroleum for setting up a state-of-art refinery in Barmer district of Rajasthan.
"The country has potential inside. We have dynamic professionals and we can do it. Several lakh crores of rupees we are spending on import. How we can come out of poverty if we pay such kind of money outside the country?" he said.
"The government is working with a vision so we in the 8-9 years could achieve 8 per cent growth rate and we are hopeful that the growth rate would be 10 per cent within next 2-3 years," the Minister said.
"Everybody should work for that and most importantly not in different directions. All should put efforts for industrial development, inclusive development and economic growth irrespective of party affiliation and ideology," he said.
Speaking on the refinery, Moily said it will accelerate economic development of the state and development of the region will take place after the refinery is setup, hopefully by 2016-17.
He said that remaining formalities should be completed within next 3 months so that
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