New Delhi, March 21, 2016 :The power sector inherited a legacy of loss, where 30 crore people were in darkness, which meant nearly six crore families lived without access to electricity. Problems were many such as the stagnant coal production, cancellation of 204 coal blocks and corruption. In fact, this led to India Today coming up with stories on India going back to the Dark Ages. The only way to tackle all this head on was by creating 10 guiding principles, which prioritise issues and make the government accountable. The Union minister said that he tapped into his several years as an investment banker to bring about reforms. A few examples of this being, changing the LED bulb financing from five years to 30 days and creating a razor sharp focus for the entire team. Another reform he introduced into the ministry was ensuring partnership with all stakeholders, leading to annual savings of $27 billion. With a decisive leadership that puts India first and outcome-oriented action, it has led to an increase in the output of our solar power. With root cause analysis, the minister said, one can focus on the underlying problem of coal production rather than coal allocation. Next, introducing transparency in the system has led to 80 per cent reduction in LED bulb prices. Further, by introducing innovative financing, an optimal payment structure has been created. They are now focusing on using technology to get real-time updates of LED bulb distribution, monitor rural electrification from mobile phones etc.
Bullet points
1. The power sector has inherited a dark legacy of power shortages, problems and a system that was not transparent
2. Tackling the problem with 10 guiding principles
3. Partnership with all stakeholders
4. Decisive leadership
5. Outcome oriented action
6. Root cause analysis
7. Rule of law and transparency
8. Innovative financing
9. Using technology to monitor and enhance services
Quotes
· Kali is a bud, we have in her a budding star and media magnate. Of course, Arun will have to quit his job…
· After all, the glitz and glamour that we have seen so far, it is time now to look at black and white. Black represents coal and white, the transparency in this entire sector.
· Our Prime Minister is intolerant about failure; he is a decisive leader. He once asked me, has anyone ever worried about the profit and loss of India?
· This country will move from scarcity to surplus by 2018
· I want you to hold us accountable. There will be power for all by 2019. We stand committed to doing it and it is going to happen.
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India Today Conclave
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Started as part of India Today’s 25th anniversary, INDIA TODAY CONCLAVE was designed as a meeting point for the best minds from India and around the world to map the geopolitical and economic future of the country. In its inaugural year the theme was India Tomorrow 2002: Opportunities and Threats with Vice President of the USA Al Gore as the chief Guest. In its second year the theme was India Tomorrow 2003: Global Giant or Pygmy? The Honorable William Jefferson Clinton, 42nd President of the United States presided as the keynote speaker. The past 14 conclaves have been widely acclaimed and popular for the quality of speakers and discussion. The speakers who have been part of this conference each year are current and former heads of state, Nobel Laureates, spiritual leaders, industry captains, social workers, economists, authors, academics, scientist, strategists, activists, cine directors, actors and sportspersons. The past conferences can be accessed at www.indiatodayconclave.com
Corporate Comm India (CCI Newswire)
