Friends, today in this article we will learn about energy crisis. I am going to give you information about all this in a very good way. So let’s start.
Energy Crisis
Energy crisis is a significant constraint in the supply of energy resources in an economy.
There are many obstacles in the way of full exploitation of the energy sector in India. The right use of electricity is playing a very important role in the economic development of India. The country is moving on the path of development today. But uninterrupted energy supply is very important to maintain the growth rate at a high level. It is necessary to ensure fuel supply for every industry in India, whether it is a small or medium or large-sized industry, health and education related industries. At present, industries are facing power crisis. In India, Coal India Limited has limited the actual coal requirement from its coal-based thermal plants to 65 percent, due to which India’s dependence on imported coal has increased. Due to this, fuel emission cost is also increasing due to limited fuel availability in the country. The financial condition of the states has been adversely affected due to increasing energy operating cost, loss in electricity transmission and outstanding loans. The purchase of land at a higher price for power projects is also having an adverse effect on land acquisition. Since building a power plant requires huge amount of investment, the increasing cost and completion time is getting affected.
India is certainly dependent on imported energy resources to meet its national energy needs. According to the Planning Commission of the Government of India, the country’s economic growth rate is estimated to be 8 percent. By 2031-32, India will have to increase the current primary energy supply by 3 to 4 times and the country’s electricity generation capacity will also have to increase 5 to 6 times compared to 2003-2004. To reduce dependence on energy imports and to deal with the energy challenges, the Government of India is giving more emphasis on energy efficiency and demand management. Rapid efforts are being made to ensure supply from renewable energy sources and efforts are being made to increase energy conservation in various energy consumption through appropriate intermediate policies.
Energy demand in India has always been more than energy supply. Electricity is a primary driver of development of any country and forms the basis of development of the power system of that country. In India, the Central Government has formed various corporations like State Electricity Boards, NTPC Ltd., NHPC Ltd., Power Corporation Ltd., etc. Yet, there is a continuous shortage of energy in India.
The current power infrastructure in India is not capable of meeting the country’s energy needs. Currently, 400 million people in the country are deprived of electricity due to lack of power grids around them. In conclusion, in summary, India’s power sector has made substantial progress in the last decades and has established itself from a nascent market to a developing market through private participation and policy reforms. Although there are many challenges in this industry, India’s power industry has to overcome to move from a developing market to a mature market. However, the gap between the current achievements and the assessed status has to be filled by the possibilities and development opportunities.
What did you learn today :-
Now you must have understood the energy crisis and you must have got the answer to all these questions very well.
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