India’s Consumption Trends in January Sign of Economic Growth: RK Singh

The Union Minister of Renewable Energy & Power R.K. Singh recently made a slew of announcements in the Rajya Sabha, shining the light on the progress made in renewable energy in the country. Here is a look at some important advancements

Asserting that the Union Budget 2021-22 will pave the way for comprehensive growth in the economy, Union Power Minister RK Singh has said that country’s energy consumption reached an all-time high of 1.89 million gigawatts in January and this is an indication that India’s economy is on a path of growth.

“In October 2020, the country’s energy consumption increased by 13 percent (1.86 lakh GW) over the previous year. In January this year, it reached an all-time high of 1.89 million GW. This is an indication that our economy is on a growth path,” ANI quoted Singh, as part of the government’s effort to reach out to the masses regarding the Union Budget.

“Another important fact is that the Ministry of Power has created 28 million new beneficiaries in the last 20 months through schemes like Saubhagya. For the first time since independence, all the villages and houses in the country have been brought under the power grid. These 28 million consumers are engaged in measures to strengthen the economy in various ways,” he added.

Singh said that India was facing an energy deficit when the NDA government came to power adding that the country is currently exporting energy to various countries.

“Several steps have been taken to strengthen the country’s energy supply chain. Steps will be taken to set up more substations and upgrade existing ones. India’s growth rate in the renewable energy sector was one of the highest in the world. India has become one of the most attractive destinations for investors. Over the past five years, the country has received USD 64 billion as an investment in the power sector,” he added.

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Earlier in January, the minister had said that India has moved from being power deficit to become power surplus during the Narendra Modi regime and that the country is also witnessing the highest growth rate in renewable energy in the world.

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“There is no power deficiency in the country. We have a maximum demand of 1.85 lakh MW of electricity but the present availability is 3.74 lakh MW,” Singh said at the signing ceremony of an MoU between the J&K government and NHPC. “Earlier, our country was deficient in power but after the Modi government took over in 2014, we have doubled the power generation to make the country a surplus in power generation.”