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India currently holds crude oil reserves sufficient for approximately 60 days of consumption.
The nation's Liquefied Petroleum Gas (LPG) supplies are adequate for about one month.
The Ministry of Petroleum and Natural Gas confirmed that all petrol pumps nationwide are well-stocked and operating normally, with no rationing measures in place.
A Special Purpose Vehicle (SPV) under the Ministry of Petroleum & Natural Gas, responsible for constructing, commissioning, and managing India's Strategic Petroleum Reserves (SPR) facilities.
The nodal ministry responsible for the exploration, production, refining, distribution, marketing, import, export, and conservation of petroleum, natural gas, petroleum products, and liquefied natural gas in India.
Fluctuations directly impact India's import bill and domestic fuel prices, making strategic reserves vital for stability.
Conflicts or instability in major oil-producing regions can disrupt supply chains, highlighting the importance of domestic reserves.
Rising fuel prices due to supply shortages or high global rates can contribute significantly to overall inflation.
Strategic reserves are a cornerstone of India's broader energy security strategy, aiming to reduce vulnerability to external shocks.
GS Paper 3: Indian Economy and issues relating to planning, mobilization of resources, growth, development and employment. Infrastructure: Energy. Security challenges and their management in border areas.
General Awareness: Indian Economy, Current Affairs, Government Schemes.
General Awareness: Economic & Financial News, Current Affairs.
General Awareness: Indian Economy, Current Affairs.
General Awareness: National Security, Economic Security, Current Events.
Which of the following are associated with 'Planning' in India? 1. The Finance Commission 2. The National Development Council 3. The Union Ministry of Rural Development 4. The Union Ministry of Urban Development 5. The Parliament Select the correct answer using the code given below.
Answer: 2 and 5 only
Consider the following statements: 1. India has more arable area than China. 2. The proportion of irrigated area is more in India as compared to China. 3. The average productivity per hectare in Indian agriculture is higher than that in China. How many of the above statements are correct?
Answer: Only two
Consider the following statements: Statement-I: India accounts for 3.2% of global export of goods. Statement-II: Many local companies and some foreign companies operating in India have taken advantage of India's 'Production-linked Incentive' scheme. Which one of the following is correct in respect of the above statements?
Answer: Statement-I is incorrect but Statement-II is correct
Medium. While specific stock numbers are dynamic, the concept of energy security, SPRs, and related institutions are recurring themes.
Underground rock caverns or salt caverns used to store crude oil for emergency situations, managed by governments.
The uninterrupted availability of energy sources at an affordable price.
A government-owned company responsible for building and operating India's SPR facilities.