Firstly, let us do away with the boring statistics-core sector growth has ground down to 2.9 per cent in March. India produced around 176.9 million tonnes (mt) of crude oil in the 11th five-year Plan period ended March 2012 against a projected 206.8 mt. In consequence, crude oil imports increased dramatically by 149 per cent to 184.5 mt in a decade to 2012-13. Most blocks auctioned out under the New Exploration Licensing Policy (NELP) are yet to start production. In the last two years, the country's natural gas production has also dropped at 9 per cent on an year-on-year basis. The average natural gas production in 2011-12 was about 130 million standard cubic metre per day (mscmd) and was estimated at 117.8 mscmd for 2012-13. KG has tanked and coal has further blackened the economic growth story rendering it virtually unrecognizable. The much tom-tommed nuclear deal which spoke of a revolution in the energy segment via atom power, lies inert as a corpse as of now. So where do we go from here?
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