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"Reforms are needed in the upstream sector"

The energy sector in India has been witnessing significant shifts in the past few years. Both the industry and policy-makers are gradually beginning to realise the fall-outs of the new policies, which are based on market principles rather than administrative prices. While, in the power sector, the government started off with a liberalised policy allowing private investors in generation, distribution and transmission, in the oil and gas sector, the government is now moving towards market prices for petroleum products instead of administered prices.

Dr R K Pachauri, Director-General of TERI, one of the premier research organisations in the field of energy, spoke to Soma Banerjee and M K Venu of The Economic Times on the new trends in this sector.

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