CHALLENGES AHEAD

Incentivising private participation in India’s oil and gas exploration and production including tax breaks on capital expenditure, reduction in oil industry development cess etc.

On natural gas pricing, the $1.79 (Rs 139) per mmBtu premise is too constricting. Of late, gas prices have risen which should attract investors

The Centre needs to reduce compliance burden, simplify procedures and improve ‘ease of doing business’ to attract more investments into the sector