What is LNG and how is it linked to India's civil services exam in economy

Explain what is meant by LNG and discuss its relevance to the Indian economy.
LNG stands for Liquefied Natural Gas. It is natural gas that has been cooled to its liquid state at -162 degrees Celsius, reducing its volume and making it easier and more economical to transport.
  • LNG is linked to India's civil services exam in economy as it is an important topic under the energy sector, which is significant for the country's economic growth.
  • India is one of the world's largest importers of LNG due to its increasing demand for energy.
  • LNG has a high relevance to the Indian economy as it plays a crucial role in meeting the country's energy requirements, particularly for power generation, industrial usage, and transportation.
  • It helps diversify India's energy sources and reduces the dependency on traditional fossil fuels like coal and oil.
  • Importing LNG is vital for India to bridge the demand-supply gap of natural gas and ensure energy security.
  • LNG infrastructure development promotes investment opportunities, job creation, and technological advancements in the energy sector, thereby contributing to the overall growth of the Indian economy.
In conclusion, understanding LNG and its significance to the Indian economy is important for candidates appearing for India's civil services exam in economy, as it highlights the role of energy diversification and energy security in fostering economic development.
Answered a year ago
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