Description

Energy security is the backbone of economic development of any country. And India is no exception. But unfortunately, the energy sector in the country seems to have been hit on multiple fronts. Right from shortage of raw materials to pricing of the final fuels, the sector is a victim of poor and irrational policies. And the macro economic conditions are only making it worse. The country is falling short in all energy sources be it coal, natural gas or crude oil and becoming more and more dependent on imports. With a depreciation in rupee, the import bill is sky rocketing and has ballooned up the fiscal deficit. On the top of it, regulated pricing and subsidy regime have brought the sector to a standstill. The half baked measures taken by the Government like increasing prices of petrol while keeping diesel prices untouched are only distorting the fuel usage patterns and doing little to tackle the problem.