New Delhi, Dec 8 (ANI): Union Law and Justice Minister M. Veerappa Moily has said that by 2017 India would need 1,250 billion kWh of power and there was also an urgent need of better transmission and dispatch system to make India a developed country.
"Power sector is very crucial for the country's economy. There is a need to generate more power to cater to the increasing demand. Also we need a better transmission and dispatch system," Moily said here yesterday. He was speaking on the occasion of the launch of his book "Unleashing India-Powering the Nation".
"The 2010-2020 decade would be of innovations. The power sector needs innovation. We have to use our natural resources which are plenty," the Law and Justice Minister added.
As per the studies, Moily said: "By 2017 India's incremental power demand will reach approximately 1,250 billion kWh, second only to China which would be requiring 1,740 billion kWh of energy."
"Installed capacity in the power sector is expected to reach 350,000 MW by the end of 2020 with thermal power accounting for 60 percent of the total at 210,000 MW, hydro power for 28 per cent at 98,000 MW and nuclear and renewable sources at about six per cent each of the total," he added.
Law Minister Moily further stated that there was a need to be sensitive to the fragile environment and ecological aspects of "our country, which has been blessed with varied flora and fauna."
He said the challenge of meeting the likely power demand of 300 GW by 2020 requires a radical new approach. The investment to reach this planned capacity is about 311 billion US dollars.
"The 11th Five Year Plan (2007-2012) targets 78,000 MW translating into a commitment of 15,740 MW capacity addition per annum, at an investment of Rs 1,032,000 crores," he added.
According to him, expert analysis suggest that if India continues to grow at an average rate of eight per cent for the next 10 years, the country's demand for power is likely to soar from around 120 GW at present to 315 to 335 GW by 2017, 100 GW higher than most current estimates.
Moily says that India has been a laggard in the development of its power potential and during the 80s this emerged as a major constraint in the growth of the Indian economy. He has suggested a radical new approach to meet the power demand of 300 GW required by the country by 2020 if it wants to keep up the momentum of the present growth rate.
The book is an effort to focus on the importance of the power sector. It highlights and analyses the strength and weakness, challenges and opportunities in this sector. It describes the plans for more capacity, the reforms underway, and the challenges therein
The book is the third in the series of publication by Moily "Unleashing India". The Law Minister, who is the author of many works, including the epic "Ramayana Mahanveshanam" is the recipient of prestigious Moortidevi Award of the Bharatiya Jnanpith. (ANI)