PM stresses need to curb energy subsidies

Indian Prime Minister Manmohan Singh has spoken on the need to curb energy subsidies. While at the laying of the cornerstone for the Rs 20,000 crore (US$3.6 billion) Integrated Expansion Project of the Bharat Petroleum Corp., the prime minister explained that, “Energy remains underpriced in our country, with coal, petroleum products and natural gas prices well below international prices. To meet our target of rapid, inclusive and sustainable development, we must undertake a phased rationalization of energy prices to bring them in line with global prices. The Central and the State government must work together to create awareness in the public on the need for curbing energy subsidies.” (January 7, 2013)