Nuclear Energy To Cut Reduce Revenue Loss On Fuel Sales: Minister

By Bernama,

New Delhi : Petroleum Ministry is planning a second round of media blitzkrieg to explain the strategic importance of nuclear energy, which Oil Minister Murli Deora said, would help reduce revenue loss on fuel sales, Press Trust of India (PTI) reported.

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Within days of India approaching International Atomic Energy Agency for country-specific safeguards for nuclear power plants, the ministry issued advertisements in newspapers explaining what the uranium extracted energy can do to the nation’s energy security.

Another campaign is planned this week, Deora said.

“At a time when India faces crippling energy shortages and when our nuclear plants are short of uranium the nuclear deal assures us the supplies we need to power the future. If we do not act now, our future energy independence is at stake,” Deora said.

It would also reduce India’ dependence on oil and gas.

“We are the worst sufferers of the oil shock. Our companies stand to lose Rs 2,460 billion (in revenues this fiscal). Nuclear energy will help reduce that,” he said.

Energy-hungry India has a huge unmet power demand and the heavily subsidised diesel is being used as fuel to generate electricity. Nuclear energy is being touted as the solution for bridging the gap, which stands a close to 90,000 MW.

“Nuclear energy is essential. There was a time when nuclear energy was considered expensive but with oil crossing US$140 a barrel, it is affordable,” Deora said.

“Nuclear deal would end technological isolation India faced since Pokhran. It will lift the world’s sanctions against us, allow our nuclear scientists to take their honoured place in the global community and grant us a status of a recognised nuclear power that will not sign the NPT but is respected a non- proliferators. The deal restores our sovereign honour,” he said.

“It offers us an invaluable of source of clean, efficient and safe energy to add to the variety of energy sources we need, coal, oil, wind, hydro, solar, bio-fuels and nuclear — as we seek to bring prosperity and hope to all Indians in the 21st century,” Deora said.

“The deal strengthens India’s energy independence, sovereignty and autonomy. It ends the sanctions that have crippled out nuclear efforts. It invests in India’s future,” he added.

The Government has not allowed state-run Indian Oil, B.P.C.L. and H.P.C.L. to raise prices of petrol, diesel, domestic L.P.G. and kerosene in line with rise in cost of raw material (crude oil), leading to an estimated Rs 2,460 billion revenue loss this fiscal.

Deora justified his ministry’s launching of the advertisement campaign saying, “we have been the worst sufferers of the oilshock. And to cut our reliance on expensive imported oil we need to look at alternatives and nuclear energy is the best alternative.”

Deora said Government has done tremendous job by getting support for the civilian nuclear deal with U.S. from all countries including China.