PM Emphasizes on Financial Sustainability of Power Sector, Make in India

PM Emphasizes on Financial Sustainability of Power Sector, Make in India

Prime Minister Narendra Modi emphasized the need for improving the financial sustainability of the power sector in order to solve the issues prevailing in the sector especially the power distribution sector.

He said during a detailed review meeting held on Thursday evening on the power sector with the Ministry of Power (MoP) and the Ministry of New and Renewable Energy (MNRE). Prime Minister also stressed on the need for more emphasis on ‘Make in India’ initiative.

PM Narendra Modi

Narendra Modi also discussed on policy initiatives including revised Tariff Policy and the Electricity (Amendment) Bill 2020 to redress the problems afflicting the power sector.

During the meeting, PM Modi also highlighted the significance of enhancing consumer satisfaction while increasing operational efficiency, and improving the financial sustainability of the power sector.

PM also pointed out that the problems in the power sector, especially of the electricity distribution segment, vary across regions and states. He further suggested that instead of looking for a one-size-fits-all solution, the Ministry should put in place state-specific solutions to incentivize each state to improve its performance.

Besides, PM Modi also advised Power Ministry officials to ensure that the Discoms publish their performance parameters periodically so that the people know how their Discoms fare in comparison to their peers.

During the meeting, the emphasis was also put on the need for increased usage of equipment in the power sector to be ‘Make in India’.

On the New and Renewable Energy, he stressed on the need for wholistic approach for the entire supply chain of the agriculture sector ranging from solar water pumps to decentralized solar cold storages.

The Prime Minister also shared his vision of increasing more tourist destinations through emphasizing on an innovative model for rooftop solar and suggested that each State should have at least one city (either a capital city or any renowned tourist destination) to have fully solar city through rooftop solar power generation.

In the meeting, emphasize was also made on the development of an ecosystem for manufacturing of ingots, wafers, cells and modules within the country, which would also help generate employment in addition to various other advantages.

Besides, he also desired to expedite the plan for carbon-neutral Ladakh and emphasized for drinking water supply in coastal areas by harnessing the solar and wind energy.

Meanwhile, Prime Minister, in his earlier meeting with the officials of the Power Ministry, emphasized on the need for enforcement of contracts effectively in order to attract private investments for the ailing power sector.

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Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.