This refers to “India to set up $350-mn solar fund” (January 19). India is naturally gifted with solar resources thus requiring cheaper capital investment in economic activity. This is in direct contrast to easy availability of other energy resources like coal and oil where either availability of resources has declined or cost of their imports increased. Further, it is both financially and commercially feasible for both private and public sector enterprises that can diversify their activities.
A social role can also be played by private banks which have so far exclusively looked for internal business growth at the cost of economic and social development. It will further ensure that their investment is cost effective and prudential. Such circumstances will enable India to take the lead to mobilise funds under the International Solar Alliance. This will, in turn, also enable it to reduce atmospheric pollution as committed in Paris which will ultimately boost its international image. Read More…
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