OIL & GAS

Energy Sector And Atmanirbhar Bharat: Challenges And Prospects

Prime Minister Narendra Modi had announced the mission of Atmanirbhar Bharat earlier this year with a stimulus of Rs 20,000 crore. The agenda is in line with the Make in India initiative, to make India a self-reliant / Atmanirbhar country.

One of the key mediums of securing self-sufficiency is through domestic industry based energy production plants, reduced dependency on imported hardware, technical services, and rapid expansion of local manufacturing capacity.

India has 3rd largest reserves of coal in the world with producing more than 600 million tonnes for power plants. Despite it, we are importing 200 million tonnes annually.

Government has liberalised the coal mining rules and regulations. This will open the sector and allow wider-participation by the private sector to mine and sell coal, thus emancipate this critical source of fuel from the monopoly of Coal India Limited. This move is expected to reduce reliance on imports and at the same time lower the prices for end customers.

Also, in India have a plethora of ministries and departments looking into the energy development of the country. These include the Ministry of Coal, Ministry of Power, Ministry of New and Renewable energy, and a separate Department for Atomic Energy.

Source
business world
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