INDIA'S ELECTRIC POWER INDUSTRY: THE FRUITS OF REFORM
Institute of Oriental Studies of the Russian Academy of Sciences India Keywords: fuel and energy complex, electric power industry, institutional structure Availability of natural resources, especially energy resources, is one of the main factors of economic growth. Studies of the dependence of GDP growth on energy consumption revealed an unambiguous correlation between them1. This dependence is also true for the electric power industry, since it is the most important end product of the fuel and energy complex (FEC) as a whole. In recent years, India has achieved a fairly high rate of economic development. This was also facilitated by the reform of the electric power industry. However, the country's energy supply constraints remain a significant constraint. BY TRIAL AND ERROR Under the Industrial Policy Resolution of 1948, the Government of India played a dominant role in the development and regulation of key sectors of the economy, which included, among other things, the electricity sector. According to Article 7 of the Constitution of India, the electric power industry is subject to parallel regulation, which implies the right of both states and central authorities to make laws in the field of electric power. Shortly after independence, legislative powers were formalized in the Electricity Supply Act of 1948.2 The Act provided for the establishment of the Central Electric Power Administration and State Electricity Boards. State governments have become autonomous institutions responsible for the development and operation of the electricity generation, transmission and distribution sectors in the most economical and efficient way. At the same time, the federal administration was given an exclusively advisory role. The Industrial Policy Resolution of 1956 almost entirely transferred the generation and distribution functions to the states. Thus, the new legislation in the electricity sector established the dominance of State-owned enterprises. For a long time, electrif ... Read more
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19.01.2024 (155 days ago)
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