With one of the biggest power outages in the history of the world, almost half of India has been forced to go about their regular affairs without electricity supply for a significant part of the day today. This is a telling commentary on the situation of the power sector in the country. Losses to business have been in thousands of crores, which pales into insignificance when compared to the difficulty that the people of the country have had to face.
Repeated occurrences of Grid failures carry a very negative image of India, when already sentiments about the country are low on account of the current economic situation and related developments. As one of the emerging economies of the world, which is home to almost a sixth of the world population, it is imperative that our basic infrastructure requirements are in keeping with India’s aspirations. The developments of yesterday and today have created a huge dent in the country’s reputation that is most unfortunate.
Coming on the heels of yesterday’s grid failure, today’s recurrence which impacted the Eastern region as well, drives home the point that the underlying issues behind the widening Demand–Supply gap for Electricity needs to be urgently addressed, said Mr Chandrajit Banerjee, Director General, CII.
CII has consistently been highlighting that urgent steps need to be taken for addressing key issues ailing the Power sector, such as improving the supply of coal for thermal power plants, rationalizing tariffs and reforming the state distribution utilities. This should be seen as an opportunity for addressing these issues on priority said Mr Chandrajit Banerjee.
Chandrajit Banerjee, Director General, CII