Indian Economy News

US$ 204.7 billion (Rs. 17 lakh crore) investments made in the power sector in the last nine years, capacity under construction is worth investment of a further US$ 210.7 billion (Rs. 17.5 lakh crore): Union Power and New & Renewable Energy Minister, Mr. R. K. Singh

Union Minister for Power and New & Renewable Energy, Mr. R. K. Singh, addressed Moneycontrol’s Policy Next Summit, stating that electricity is vital for development, and the absence of load shedding is a key feature of developed countries. He highlighted India's progress in reducing power shortages from 4.5% in 2014 to less than 1%. He noted the achievement of universal electricity access, connecting 29 million homes in 19 months, recognized by the International Energy Agency.

He outlined significant advancements, including adding 194 GW of power capacity (107 GW from renewables), constructing 193,000 circuit km of transmission lines, and creating the world's largest integrated grid. Power transfer capacity increased from 36 GW to 117 GW. The Minister's account showcased India's commitment to a sustainable energy future.

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