New Delhi: Union Minister Dharmendra Pradhan on Saturday said the consumption in natural gas is witnessing a 6% growth for the last couple of years.
“Share of renewable in electricity mix has gone up from around 5% in 2014-15 to now 22%. Ethanol blending percentage has risen from 0.67% in 2012-13 to now close to 6%. Natural Gas consumption is witnessing 6% growth since the last couple of years,” Pradhan said while addressing the third International Think Tank Meeting (ITT) in Delhi.
He said a number of international activities are having a direct impact on India economy, energy sector and investment dimensions.
“US sanctions on Iran and Venezuela, attacks on Saudi oil processing units, volatile conditions in Strait of Hormuz, unrest in the Middle-East, and US-China trade war—these developments have an enormous impact on India’s energy security and also on our economic, budgetary and investment dimensions,” Pradhan highlighted.
The Petroleum minister’s statement assumes significance in the backdrop of a government data showing that the industrial output in the manufacturing, power generation and mining sectors has declined by 1.1 per cent in August due to poor performance by these sectors.
The data showed that the decline was the sharpest in industrial output growth since February 2013. In August last year, the Index of Industrial Production (IIP) had expanded by 4.8 per cent. The manufacturing sector, which contributes over 77 per cent to the IIP, had expanded by 5.2 per cent in August last year but showed a decline of 1.2 per cent in output this year.
The Apart from this, the industry group ‘manufacture of motor vehicles, trailers and semi-trailers’ showed the growth of minus 23.1 per cent followed by minus 21.7 per cent in ‘manufacture of machinery and equipment’ and minus 18 per cent in ‘other manufacturing.’
Likewise, the electricity generation also went down by 0.9 per cent which had an expansion of 7.6 per cent last year. The mining sector’s growth rate was flat at 0.1 per cent this year. The overall IIP growth between April and August was only 2.4 per cent. It was 5.3 per cent last year.