- Move to enhance ease of doing business and reduce cost
NEW DELHI, 31 July 2022: FICCI welcomes the recently launched initiatives and reforms in the power sector by the Hon'ble Prime Minister Shri Narendra Modi in the form of the launch of National Solar Rooftop Portal and Revamped Distribution Sector Scheme focusing on the DISCOMs among others. These are steps in the direction towards uninterrupted power supply, which has been a cause of concern off-late.
By augmenting power supplies and revamping the transmission & distribution networks, the Government is not only ensuring enhanced ease of doing business & reduced cost of doing business for the corporates but also improving the living conditions for the citizens. For power sector reforms, India is leading by example not only among the developing nations but is ahead of the developed nations as well, both in terms of the initiatives and the achievements.
"The Indian energy system, especially the power segment continues to witness immense optimism. Launch of the Revamped Distribution Sector Scheme, would not only improve the financial health of DISCOMs but would also support their efforts on modernization and build-up of distribution infrastructure, further improving the power availability for customers. The national solar rooftop is a great initiative towards the augmentation of solar capacity in the country," said Mr Arun Chawla, Director General, FICCI.
Supported by the PM Kusum Yojana and UJALA scheme, we are able to save on the electricity consumption and are also making an accelerated transition towards the targets envisaged under the Panchamrit Statement made at the CoP26.
Mr Vipul Tuli, Chair, FICCI Power Committee and CEO, South Asia - Sembcorp Industries, highlighted, "A viable, modern electricity generation and distribution system is vital to India's economic progress, especially with electricity emerging as the preferred form of energy. It is significant and timely that this topic is getting attention from the highest level in the country. We in industry welcome the Hon'ble Prime Minister's resolve today and stand ready to take the necessary steps to ensure a strong and secure energy system."
DISCOMs are the most critical element in ensuring continued and uninterrupted power supply to the nation. However, poor financial health of DISCOMs and low visibility for decentralized energy resources has been a challenge for the sector for long. Improving the financial health of DISCOMs and incentivizing them is a critical enabler for the Indian power ecosystem. Encouraging the states to clear their dues to the DISCOMs would help in improving the financial viability of the sector, ensuring increased funds with the DISCOMs to invest into the distribution and transmission networks.
The India's power sector transition is underway, offering vast opportunities and given the country's size, this would be transformational. Reforms in the sector would not only ensure uninterrupted power supply across the nation but would also generate employment opportunities, contributing to the overall development of the society.
Supported by the initiative of One Nation One Power Grid, it is matter of pride to note that we have added 170 GW of generation capacity in the last 8 years. Installed renewable power generation capacity in India has increased at a fast pace over the past few years.
Indian power sector is currently in a state of transition, witnessing change in generation, transmission, distribution and consumption patterns. Many forward-looking reforms have been initiated which are going to benefit the country immensely in the next 25 years.
FICCI MEDIA DIVISION
Leave your Comment