Announced Changes:
 

1. Increase in Energy Production Capacity:

   • Target to enhance renewable energy capacity to 500 GW by 2030.

   • Plan to scale up hydrogen production capacity to 5 million tonnes.
      

2. Reforms in Oil and Gas Sector:

   • Strategy to boost investments for exploration of new blocks.

   • Consideration of setting up two new oil refineries.
      

3. Encouraging Reforms and Investments:

   • Invitation to foreign investors to invest in India’s energy sector.

   • Use of advanced technologies in petroleum and natural gas production.

Potential Impacts:
 

1. Economic Growth:

   • Increased energy production will boost industrial development.

   • New employment opportunities will be created.
      

2. Energy Self-Reliance:

   • Dependency on oil and gas imports will reduce.

   • Hydrogen and renewable energy will offer long-term energy solutions.