One of the
biggest challenges for the resurgent Indian economy is the exponentially
growing demand for energy. With the country's oil import bill for last
financial year touching a staggering $150 billion and per capita consumption of
electricity languishing at a paltry 917.2kWh, as against 3298 kWh in China and
12346 kWh in the US, energy is clearly a critical focus area for the new NDA
Government.
The
Government has decided to tackle this challenge proactively by focusing on the
three As – access, availability and affordability – as the primary drivers to
reach the goal of sustainable energy for all. Landmark reforms are being
planned for energy sector policies, and some, such as the new bill for the coal
sector, has improved upon a 40-year legacy with one bold stroke. The Government
has also set very ambitious targets for the renewable energy sector, with 100GW
of solar energy installed capacity envisioned by 2020, entailing investments to
the tune of USD 100bn.
Given the
significant developments underway in this sector, the November issue of Policy
Watch reached out to industry leaders across the power, hydrocarbons and
renewable energy sectors, to capture their views on the policy reforms being
proposed by the Government, and their recommendations to ensure a sustainable
and energy-secure future for the country.