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India’s GDP to achieve 8% growth next financial year despite note ban: Dharmendra Pradhan

06 Mar 2017 Evaluate

Minister of State for Petroleum and Natural Gas Dharmendra Pradhan has expressed his confidence that India’s gross domestic product (GDP) will achieve 8% growth and continue its momentum for the next financial year, even after demonetising about 85% of all currency in circulation last November.

Highlighting Modi government’s emphasis on energy justice linked with climate justice, the oil Minister has said that they want to create a new energy story in India and they are committed to energy justice. He also said that their approach has been holistic and covers conventional and alternate sources of energy with a view to promote government’s vision of energy justice to all linked with climate justice.

Dharmendra Pradhan further said that global warming is real and the country still has millions of its citizens without access to energy. He said that the country is determined to provide energy to all its citizens, doing so in a sustainable manner. The minister said that they will continue to depend on coal but will gradually shift to gas and renewables. He added that coal provides 60 per cent energy to India and dependence on coal will continue. He also said that in the longer term, the country will target to increase the share of natural gas to 20 per cent by 2030.

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