Arvind Kejriwal has expressed serious concern over the price hike in gas supplies from RIL’s KG fields. He has also alluded to a bonanza of Rs 45,000 crore that would accrue to Mukesh Ambani over the next two years. Whether or not the Government acquiesces to RIL’s demand for hike in price from the existing $4.2 per mbtu (million British thermal unit) to around $14 per mbtu is a matter on which the EGoM has to take a call. However, what it will have in store for the economy is an issue that we need to seriously consider. India imports 80 per cent of its crude requirements. Apart from being a cleaner fuel, gas offers enormous scope for reducing import...
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