Power Minister Highlights Sector Reforms, Challenges AtCII Annual Session

New Delhi
The Centre on Thursday said that significant improvements have been made in the power sector, and efforts made to address the viability concerns faced by power distribution companies (DISCOM) and the broader industry issues.
Speaking at the CII Annual Session 2023 being held here, Raj Kumar Singh, the Union Minister of Power, New and Renewable Energy stated, We have taken on challenges that would have deterred you, one of them being viability.Current dues are being paid promptly, ensuring the viability problems have been tackled.
He went on to highlight the transformative measures undertaken in the sector, resulting in a significant reduction in DISCOM losses from 22 per cent to 17 per cent. Addressing the issue of politicization in the power sector over the years, Singh expressed concern over short-sighted politicians who promise free electricity to gain votes. He emphasized that there is no such thing as free power, as it ultimately burdens taxpayers who pay the bill.
The minister, however, assured investors that the power sector is now a favorable investment opportunity. He highlighted that several firms which faced financial difficulties and underwent insolvency proceedings in the National Company Law Tribunal (NCLT) have seen positive outcomes.
He also expressed India's commitment to both thermal and hydro capacity expansion, despite calls to reduce fossil fuel usage following the Russia-Ukraine war and disruptions in the global supply chain. Singh emphasized the need to provide energy in a safe and clean manner, in line with global demands.