Vital role of Energy, Petroleum sectors in making India a $5 trillion Economy: Amit Shah

On Thursday, Union Home Minister Amit Shah said that petroleum & energy sectors would play a vital role in making India a five trillion dollar economy.
Speaking at the seventh Convocation ceremony of Pandit Deen Dayal Upadhyay Petroleum University here, Shah said, "Calling for the development of oil & gas & energy sectors, Shah said that the government had taken several initiatives to develop the sectors, such as the new Hydrocarbon Exploration & Licensing Policy (HELP), but still more needs to be done."
He remarked that while India comprised of 18% of the world's population, its energy consumption is only 5.4% of the global energy consumption, which proved that the per capita energy consumption in India is quite low.
Speaking about the Country's economy in presence of Gujarat Chief Minister Vijay Raupani, & Industrialist & Entrepreneur Mukesh Ambani, Shah said that in 2014, the country's economy was not in good shape & now in 2019, India is still the fastest-growing economy.
Home Minister further added, today India has strong macro-economic fundamentals, it is the fastest-growing economy & has reduced the fiscal deficit from 5% of GDP to 3.3% of GDP.
"From 142 in 2014, India had achieved a World Bank Ease of Doing Business Rank of 77 in 2019," he said.
He spoke of India's improved World Economic Forum Global Competitiveness Index of 71 to 58. He noted PM Modi's goal of making India one of the world's three largest economies by 2022, & that of making India a 5 trillion dollar economy.
He urged the graduates to take this era of transformation forward. He said that decisions like GST have proven that PM Modi takes decisions not to please people but to improve their lives & develop the nation.
He noted that while there were only 3000 startups from Independence to 2014, today there are more than 20,000 startups.
Speaking on the Country's security, the Shah said, "After Uri, we carried out airstrike & showed the world that we support peace but won't tolerate any threat to our security. We carried out airstrikes after Pulwama & made it clear, no one can violate our borders."
Speaking about the abrogation of Article 370, he said, "Removing Articles 370 & 35A was a big challenge & Prime Minister Narendra Modi came for the second term & made the decision to end article 370 to make Kashmir an integral part of India."
Shah further added, "I have confidence that Kashmir which was away from development & there was joblessness, poverty, poor health conditions but in coming days there will be industry, tourism, education, health services & jobs for youth in the valley".
In a lesson to students present at the convocation, Shah said that his advice to them is that they should always aim high. Amit Shah asked every student present there to take a 'Sankalp' (aim) for the good of the country on the occasion of 150th birth anniversary of Mahatma Gandhi this year on Oct 2.

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