Government absorbed Rs 75,000 Crore fuel losses to protect citizens: Modi

Prime Minister Narendra Modi said India overcame the global energy crisis through diversified fuel imports, strong diplomacy and government support, including excise duty cuts. He highlighted India's growing refining capacity while inaugurating Rajasthan's first greenfield refinery-cum-petrochemical complex

Jaipur: India successfully navigated one of the biggest global energy crises through proactive policies, diversified fuel sourcing, and strong diplomatic ties, with minimal burden on citizens, Prime Minister Narendra Modi said on Saturday.

The prime minister was addressing a gathering after inaugurating a refinery in Pachpadra of Balotra district. He also laid the foundation stone of multiple development projects.

---

Modi said India expanded its energy imports significantly during the West Asia crisis. “When the crisis began, India was importing energy from about 25-26 countries. During the crisis, we increased this to more than 40 countries,” he said, attributing the turnaround to India’s diplomacy.

\He said oil companies incurred losses of over Rs 75,000 crore between April and June due to rising global prices, but the government absorbed the burden.

“We reduced excise duty by Rs 10 per litre and ensured that the burden on citizens did not increase significantly,” he said.

Rumours were spread, and people were incited, but those with malicious intentions did not succeed, Modi said. “Those who wished to see India fail had even begun making predictions. Today, they must be wallowing in the depths of despair,” he said.

The prime minister said the country has become the world’s fourth-largest in refining capacity and continues to expand. \He also credited his government’s long-term policies with overcoming global disruptions in fuel and fertiliser supply caused by the war between Iran and the US-Israel combine.

On a different note, Modi said self-respect of an individual or a nation can remain high only when they are self-reliant.He said the BJP governments do not simply lay foundation stones for projects and leave them.

“We work day and night to ensure their completion,” he said. Modi on Saturday inaugurated the country’s first greenfield integrated refinery-cum-petrochemical complex in Pachpadra. The refinery is also Rajasthan’s first of any kind.

Modi inaugurated the project by pressing a remote button after touring the refinery complex. The prime minister said the work on the refinery remained virtually at standstill when Congress was in power in Rajasthan from 2018 to 2023.