| Which of the following statements about the oil and gas production in India is/are correct? |
| 1. The oil and gas sector plays a major role in influencing decision making for all the other important sections of the economy. |
| 2. The government has allowed 100 percent foreign direct investment (FDI) in petroleum products sector. |
A) 1 only
B) 2 only
C) Both are correct
D) both are wrong
Correct Answer: C
Solution :
The oil and gas sector is among the six core industries in India and plays a major role in influencing decision making for all the other important sections of the economy. The Government of India has adopted several policies to fulfil the increasing demand. The government has allowed 100 percent foreign direct investment (FDI) in many segments of the sector, including natural gas, petroleum products, and refineries, among others. Today, it attracts both domestic and foreign investment, as attested by the presence of Reliance Industries Ltd (RIL) and Calm India.
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