The focused reforms unleashed by the Narendra Modi government in the last
three years have halved the rate at which power prices rose every year, and
improved India's position in the global 'ease of getting electricity' ranking.
Aided by the government's massive rural electrification program during the
last three years, India has moved up to the 26 th spot in global electricity
accessibility ranking, moving up from 99 th position in 2014.
The compounded annual growth in power prices in the 2014-16 period stood at
3.27% against 5.94% through the last 10 years between 2004 and 2014.
Nowhere has the success of the government's policies become more visible
than the very recent development where solar power tariff went below coal-fired
power for a project at Bhadla solar park in Rajasthan.
The overall Energy shortage in the country too has come down to 0.7 at
present from 4.2 per cent in 2014. No wonder power, coal renewable energy and
mines minister Piyush Goyal spoke from a position of strength when he told the
Vienna Energy Forum, "Many problems had earlier set India back for many
years but now the mood has changed."
"India is taking rapid strides in terms of commitment and target for
promoting energy conservation and efficiency," he told the gathering.
"Traditionally India's stand has been what the world was ready to do
to help us go green. Finally, we are able to tell the world that we will do
whatever it takes to improving our pollution levels to meet the challenges of
climate change, irrespective of what the world does.
We have finally been able to make solar tariff go below grid parity...
India's leadership position in green energy will new benefit the world,"