Vijayawada: Union Petroleum Minister Hardeep Singh Puri has forecast significant advancements for Andhra Pradesh under the "double engine sarkar," referring to the collaboration between Modi's central government and Chief Minister Chandrababu Naidu. He is optimistic that India is on course to emerge as the world’s third-largest economy shortly.

At a media briefing here on Friday, Puri said the political dynamics in Delhi had taken a wrong turn over the past several years. However, the Bharatiya Janata Party’s (BJP) victory in the Delhi elections stands as a testament to the performance of Prime Minister Narendra Modi, who brings with him 12 years of experience in state governance. Puri emphasized that Modi believes in cooperative federalism, and under his leadership, India has experienced rapid economic growth. The Union Minister highlighted that under Modi’s leadership, financial assistance from the central government to Andhra Pradesh has increased manifold.

He pointed out that the BPCL refinery project, set to be established in Andhra Pradesh, will be a game-changer for the state’s economy. He credited both Prime Minister Modi and Chief Minister Chandrababu Naidu for their relentless efforts in securing the project. Once operational, he added, the refinery will also drive economic growth in the surrounding regions.

Puri further noted that the Central government has allocated Rs 9,417 crore for railway infrastructure in Andhra Pradesh in the 2024-25 budget, a figure that is eleven times higher than previous allocations.

Discussing the broader economic outlook, Puri stated that the recent Union Budget reflects India's development trajectory. Citing estimates from the International Energy Agency (IEA), he mentioned that India is projected to consume the highest quantity of oil globally, which indicates strong economic expansion. He also remarked on the increasing energy production worldwide, with several countries ramping up oil and bio-energy production.

Dismissing concerns over rising fuel prices, the minister affirmed that India is the only country where petroleum prices have decreased over the past three years. He refuted the misconception that the central government benefits from increasing oil prices, clarifying that revenue generated is directed towards public welfare initiatives, such as subsidized gas cylinders and ration supplies, ultimately benefiting the common man.

Former Union Minister Sujana Chowdary, BJP

leaders Paturi Nagabushanam, and A Sriram were also present.