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Context: In an energy-dependent country like India, the availability of energy supplies at affordable rates is pivotal for fulfilling developmental priorities.
Rationale Behind Amendment
Electricity (Amendment) Bill of 2020
Introduction of Direct Benefit Transfer: Direct Benefit Transfer will be beneficial for both the State Governments as well as Distribution Companies.
National Renewable Energy Policy: India is a signatory to the Paris Climate Agreement. It is therefore proposed to have a separate policy for the development and promotion of generation of electricity from renewable sources of energy.
Cost Reflective Tariff: There had been the issue of lazy attempts from the commissions in adopting the tariffs determined, causing issues of cost escalation.
Payment Security: It is proposed to empower Load Dispatch Centres to oversee the establishment of adequate payment security mechanisms before dispatch of electricity, as per contracts.
Electrical energy should be covered under GST, with a lower rate of GST, as this will make it possible for power generator/transmission/distribution utilities to get a refund of input credit, which in turn will reduce the cost of power.
Push for renewal energy: The impetus to renewal energy, which will help us mitigate the impact of climate change, is much needed.
Early passage of the Bill is critical as it will help unleash a path-breaking reform for bringing efficiency and profitability to the distribution sector.
By: Shubham Tiwari ProfileResourcesReport error
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