In a recent webinar, the Prime Minister of India stated that in recent years, India has added 139 Giga Watts capacity and reached the goal of one nation-one grid-one frequency. He added that reforms like the UDAY scheme were undertaken to improve financial and operational efficiencies. He further added that India has become a power surplus country from a power deficit one. The idea of One Nation, One Grid has been making rounds in the news for the last few years. However, the idea is not new to us. To reach the ambitious goal of India becoming a nation using renewable energy sources for most of its needs, the idea of One Nation, One Grid is vital. The energy sector plays a crucial role in the progress of the country and influences both ease of living and ease of doing business. To fulfil the goals, the nation needs to have last-mile connectivity and One Nation, One Grid is a step forward in this direction.
Due to its high dependence on roads for the goods’ movement, India had long suffered from high logistics costs and slow economic progress. This situation is expected to change next year when Eastern Dedicated Freight Corridor and Western Dedicated Freight Corridor are set to be operationalised after the completion of the first phase of the DFC project.
Vehicle scrappage programs serve multiple purposes like reducing traffic congestion, air pollution, pressure on mines, etc. However, it is also a key tool for economic revival as it has a direct bearing on the automobile sector– a critical determinant of economic growth. Many countries used it in the aftermath of the 2008 financial crisis to aid their recovery. Recently, Ministry of Road Transport and Highways released the draft Vehicle Scrappage Policy. This could serve as a much needed leg up for the Indian auto industry and post-COVID economy.
Industrial capacities and critical infrastructure are key targets in warfare. This has been so especially since the Industrial Revolution. Today, cyberwarfare poses a greater threat in this regard as it can cause much greater damage to the target with very little cost to the attacker. The ShadowPad attack on Mumbai’s electricity distribution grid has shown the damaging potential of cyberattacks directed at critical infrastructure. Though the energy sector is one of the most targeted in such attacks, it isn’t the only one. Sectors like transport, telecommunication, manufacturing units and other public sector services could be brought down by cyberattacks.
In the Union Budget 2021-22, the Finance Minister proposed the revival of the DFI model to meet the needs of infrastructure financing. The government has set a target of 5 lakh crore INR loan within 3 years. For this, the proposed DFI is to be capitalized with 20,000 crore INR. Given the importance of infrastructure development in the post-COVID world, there is a need to examine the viability of the DFI model and how it can be made to work in India.
February 7th, 2021 saw the flooding of the Alaknanda River system, claiming the lives of over 60 people. Many others have gone missing and 2 hydroelectric power projects have been washed away. Though the exact cause of the flood is still being looked into, one of the possible causes is a phenomenon called glacier lake outburst flooding (GLOF). Though the region has experienced GLOFs in the past, this recent event is a cause for concern as it has occurred even before the end of winter– a period that is generally considered safe in terms of GLOF risks.
The aviation sector in India has witnessed growth faster than many other industries in India. From the number of flights flying in India to the number of passengers boarding flights in India, India reported exponential growth in this sector. India has become the third-largest domestic aviation market in the world. Although the aviation market is showing promising results, the rise in the number of accidents has also risen gradually. The recent air accident in Kerala of Boeing 737, killing 18 people and leaving more than 150 people injured has been a major setback for the aviation sector in India. Thus, it has become important to understand the various factors affecting air safety in India and suggest measures to deal with the problem.
In the last few decades, the insurance industry in India has dynamically expanded. Governments from time to time have shown their commitment to providing insurance facilities to the citizens of India. The insurance market in India holds great potential to act as a booster for the Indian economy. With the rise of population and poverty in the country, there is a looming risk of uncertain financial losses. In such a situation, the insurance sector in India has a major role to play in the coming time.
India is anticipated to be the biggest contributor to the renewables boom in 2021, with the country’s annual growth in renewables doubling from 2020. Recently, the Prime Minister of India mentioned about having huge renewable energy deployment plans for India for the next 10 years which are likely to create business opportunities of around $20 billion a year.