Parliament Passes Indian Institute of Petroleum & Energy Bill, 2017 (Download PDF)

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Passing of bill: The Parliament has passed The Indian Institute of Petroleum and Energy (IIPE) Bill, 2017 after it was adopted by Rajya Sabha, Lok Sabha already passed the bill in August 2017, The Bill establishes the IIPE at Vishakhapatnam, Andhra Pradesh as an institution of national importance.

Image of Institute of Petroleum & Energy Bill, 2017

Image of Institute of Petroleum & Energy Bill, 2017

Image of Institute of Petroleum & Energy Bill, 2017

Targets of IIPE

  • The IIPE aims to provide high quality education and research focusing on all aspects and themes of petroleum, hydrocarbons, and energy.

  • The IIPE will actively pursue research and development in the fields such as liquefied natural gas, biofuels, and renewables.

  • The bill set-ups key authorities for governance and management of IIPE. They are General Council, Board of Governors, Senate; and any other authorities declared by statutes.

    Funding of the institute

  • The Institute funding includes funds that it receives from central government, fees and money received from any other sources (grants and gifts). Its accounts will be audited by Comptroller and Auditor- General (CAG) of India.

  • Andhra Pradesh Government has provided 200-acre land at Vishakhapatnam and Central government has made a provision of Rs. 650 crore for the institute, which was being mentored by IIT, Kharagpur.

    Background

  • The IIPE is being set up at Visakhapatnam as part of a package promised by the Centre to Andhra Pradesh after Telangana was carved out of it.

  • Andhra Pradesh Government has provided 200-acre land at Vishakhapatnam and Central government has made a provision of Rs. 650 crore for the institute, which was being mentored by IIT, Kharagpur.

    Significance of Andhra Pradesh

  • Andhra Pradesh is the eighth largest state in India

  • The two large cities of Andhra Pradesh are Vijayawada and Visakhapatnam

  • The state was separated from the state of Telangana on 2nd June 2014.

    Visakhapatnam is Known For?

  • Visakhapatnam is the headquarters for eastern naval command of Indian Navy.

  • The city is home to the oldest shipyard and the only natural harbour on the east coast of India.

  • Visakhapatnam Port is the fifth-busiest cargo port in India.

- Published/Last Modified on: January 25, 2018

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