Stepping into a ministry that had in recent times been attacked for slow decision making, the new Petroleum Minister M Veerappa Moily on Monday promised quick decisions by creating an environment conducive for investment.

Moily, 72, who replaced S Jaipal Reddy, said his priority would be to intensify domestic oil and gas explorations to reduce dependence on import.

“Emphasis will be on quick decision making and innovation. Decisions should not be delayed. Delaying decisions will cost the nation,” the minister said after assuming charge.
Lauding his predecessor, under whom the ministry was accused of being indecisive and almost halting oil and gas exploration, Moily said Reddy had done a “wonderful job, setting highest standard of probity in administration.”

“Many a time it happens (that) you avoid taking decisions. That is not a solution. Avoiding or delaying decision is not a solution. And this is where we need to very seriously work on,” said Moily, who was previously minister for Power and Corporate Affairs.