India is making impressive strides towards a cleaner, more resilient power grid, which is essential for sustainable growth. In latest Budget speech, the Finance Minister outlined new policies aimed at boosting pumped hydro storage, nuclear energy, and energy efficiency, showing a strong commitment to the clean energy transition.
Here’s What We’ve Achieved:
- Thanks to the Saubhagya scheme, nearly every household in India is now electrified. By 2020, around 97% of homes had access to electricity.
- India’s renewable energy capacity has surged five-fold in the past decade, making us the fourth-largest country in the world for renewable energy.
- Power distribution companies have cut their losses by 40%, reaching a record low of 15% in 2022-23. This means a more efficient and stronger power sector.
Challenges We Still Face:
- Even with these advancements, we need to speed up the shift away from fossil fuels and increase our clean energy sources to meet our climate goals.
- As demand for power rises, we must ensure that energy remains affordable and reliable while pushing for greater sustainability.
While we’ve made significant progress, the road ahead involves continued investment and innovation to meet growing energy needs and environmental goals.
Read more at The Hindu.
Disclaimer: Above content does not constitute any legal advice and is only provided for educational purpose.
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