Piyush Goyal Can India Have Power 24x7? Yes, We Can & Here's How
INVC NEWS New Delhi, The power sector inherited a legacy of loss, where 30 crore people were in darkness, which meant nearly six crore families lived without access to electricity. Problems were many such as the stagnant coal production, cancellation of 204 coal blocks and corruption. In fact, this led to India Today coming up with stories on India going back to the Dark Ages. The only way to tackle all this head on was by creating 10 guiding principles, which prioritise issues and make the government accountable. The Union minister said that he tapped into his several years as an investment banker to bring about reforms. A few examples of this being, changing the LED bulb financing from five years to 30 days and creating a razor sharp focus for the entire team. Another reform he introduced into the ministry was ensuring partnership with all stakeholders, leading to annual savings of $27 billion. With a decisive leadership that puts India first and outcome-oriented action, it has led to an increase in the output of our solar power. With root cause analysis, the minister said, one can focus on the underlying problem of coal production rather than coal allocation. Next, introducing transparency in the system has led to 80 per cent reduction in LED bulb prices. Further, by introducing innovative financing, an optimal payment structure has been created. They are now focusing on using technology to get real-time updates of LED bulb distribution, monitor rural electrification from mobile phones etc.