A Parliamentary panel has asked the government to formulate a new hydro power policy to address various issues related to the sector and harness the potential renewable source of the energy.
The government should formulate a new hydro policy which will address the existing as well as the anticipated problems being faced by this sector, the Standing Committee on Energy said in its report tabled in Parliament today.
It expressed hope that the issues such as providing long term cheaper loan and sharing the burden of enabling infrastructure for hydro power projects and considering all hydro projects as renewable irrespective to their capacities will be taken care of while formulating the new policy.
The Power Ministry is working on a Rs 16,000 crore hydro policy to boost the renewable source of energy.
As on January 31, 2018, India had 44.93 GW installed hydro power capacity. The pace of implementing hydro power projects has slowed down as 5.4GW was installed during the 12th Plan period till March 31, 2017 as against the target of 10.89 GW, the report noted.
The panel also recommended the Finance Ministry to allocate extra funds to Power Ministry at revised estimate stage if required.
It noted that against the proposed allocation of Rs 36,843.32 crore by Ministry of Power for 2018-19, the Ministry of Finance have allocated Rs 15,046.32 crore only which is slightly higher than Rs 13,881 crore allocated last year but it is 50 per cent less than the proposed. Read More
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