Supply of coal by state-owned CIL to the power sector in the first six months of the ongoing fiscal increased 6.7 per cent to 204.5 million tonnes even as power producers rued over low coal stock at their plants.
For a country like India, assured and affordable supply of energy is the prime prerequisite for achieving economic growth and the Government of India has been supportive to growth in the power sector.
Power ministers of Meghalaya, Assam, Arunachal Pradesh, Nagaland, Tripura, Mizoram and Manipur underlined the need to approach the Centre for a change in the funding pattern for states in the region, which still need development in the power sector.
Government-run power distributors in India continue to hold the sector “hostage” as there has been little improvement in their operations despite multiple attempts over the years, Vinayak Chatterjee, chairman of Feedback Infra told BloombergQuint in an interview.
India’s powercompanies have a problem largely responsible for $10 billion a year in losses. Slum dwellers steal electricity and refuse to pay their bills.
After launching the Pradhan Mantri Sahaj Bijli Har Ghar Yojana for universalizing electricity access, the National Democratic Alliance (NDA) government is readying a raft of power sector structural reforms including legal provisions to drive electricity demand
Prime Minister Modi’s vision to place India in the league of superpowers inspires millions of Indians to dream big. Former Power Minister Piyush Goyal shouldered the responsibility of ‘powering’ dreams of millions of children, industrialists, farmers, and shopkeepers key stakeholders of economic growth and prosperity.
The Indian power sector had reached the absolute dead-end by the 1980s. The total losses of the SEBs without subsidy had crossed Rs. 3000 crore.
India is amongst the fastest growing economies and the ‘power sector’ is acting as a catalyst to this growth. The record capacity addition in the last couple of years raised the installed generation capacity to over 315GW, including 50GW from renewables.
With the Centre’s push for electricity for all, power financing firm Rural Electrification Corporation (REC) sees major growth coming from renewable energy, transmission, distribution, smart grid and turnkey projects overseas through subsidiaries.