| Nuclear power essential to grow at 10%: PM |
| Press Trust of India / New Delhi August 20, 2007 |
| Pressured by the Left parties over the Indo-US civil nuclear agreement, Prime Minister Manmohan Singh strongly reiterated the government's commitment to develop nuclear power as an alternative source of energy. Speaking after laying the foundation stone of Oil and Natural Gas Corporation's new building in New Delhi, the prime minister said energy security is essential for the country to accelerate its economic growth rate to a targeted 10%. "I urge political parties to appreciate the vital national interest of pursuing a sound energy security strategy. India is on the move, and we must be able to address growing energy demands. No government can afford to shirk this responsibility and hope to find favour with the people," he said. "Currently, the total domestic production of oil by Indian companies is less than one-third of consumption. As we know, oil and gas reserves in India are quite limited," Singh added. Given the "unbearable burden" of the growing crude oil import bill, he said the energy deficit must be bridged by the development of nuclear power. "These facts compel us to think of a new strategy to deal with the rising energy demand," Singh said, adding that nuclear and solar sources can play an important role in addressing energy security needs. The prime minister also made a strong case for more flexible fuel pricing, though stopping short of calling for market forces to determine fuel prices, Singh said: |
