Budget 2026 Boosts Decarbonisation, Crude Diversification, Energy Security: Puri

• Petroleum Minister Hardeep Singh Puri stated that Union Budget 2026 reinforces India's commitment to decarbonisation, crude diversification, and long-term energy security.
• The Budget allocates ₹20,000 crore for Carbon Capture, Utilisation, and Storage (CCUS), targeting industries like steel, power, and refineries to advance India's decarbonisation agenda.
• Puri highlighted India's significant progress in biofuels, with blending increasing from 1.4% to 20% between 2014 and 2025, achieving the target six years early.
• India has expanded its crude oil sourcing from 27 to 41 countries, a core strategy under PM Modi for energy security and diversification.
• India continues to explore energy partnerships globally, including with Venezuela for heavy crude and Canada for gas and crude, with existing investments through Indian Oil Corporation.

Why It Matters: Budget 2026 strengthens India's energy strategy, focusing on decarbonisation, diverse crude sourcing, and global partnerships.