THE VERTICAL INTEGRATION PARADIGM OF ENERGY

India is the third largest energy consumer in the world after China and USA. Oil and Gas sector within the energy mix occupy over one third of the energy requirements. The percapita demand for energy in India has increased by more than 60% since 2000 and India depends largely on crude oil imports to meet 78% to 85% of domestic petroleum consumption. Despite the surge in the prices of petroleum products in the international market since January 2021 and the declining domestic production of crude oil, the inordinate consumption is a threat to the Indian fiscal management. The government is integrating vertically the diversified energy sources for energy management, fiscal management and sustainable development. In this circumstance the national, inter-state and intra-state time bound action plan is inevitable for a shift in the dependence of non-renewable sources to high technology electric modes and exploration of solar and wind energy for sustainability and for energy security.