By: Gaurav Jain , Published: February 14, 2020 02:50:59We have to be patient and not rush to create more jobs in the short term, says a business law graduate.
In a speech at a business training conference in Bangalore, a leading business law instructor said it would take a while for India to make electricity more affordable.
He said that India has an infrastructure in place to make it cheaper than the world, but the cost of the electricity will continue to rise.
India is currently spending around Rs 200 crore on the grid each year to provide electricity to its people.
At present, the cost per unit of electricity is around Rs 2,500 per megawatt hour (MWh).
“It is a matter of time before the price of electricity starts to go down,” said Prof. Anurag Vakshi, a law professor at the Jindal School of Business in Jindal.
“India needs to look at the long-term vision of the government and not just short-term considerations,” said Vakshish.
The cost of electricity in India has also increased due to climate change.
According to a report from the Indian Council for Research on Women (ICRW), India’s electricity costs have risen to the highest in the world.
An analysis by ICRW showed that India’s current rate of electricity price rise is more than six times the average rate in developed countries.
The report said that a study of power bills across different states, including Delhi and the national capital, Delhi, showed that prices of power are expected to increase by an average of 14% in the next three years, compared to the current levels.
The increase in power prices is a result of the growing cost of solar energy and the inability of consumers to afford solar power, according to the report.
The Indian government has been looking into making electricity more cost effective and has said that it will make solar and wind power more affordable through the use of a hybrid system.
But a recent report from ICRW found that this has not been enough.
According to ICRW, only about one in four of India’s households is able to afford electricity.
It is expected that the country will be unable to meet its energy needs unless it has a cost-effective system for electricity.
Prof. Anu Kumar, head of the Department of Law, told NDTV that India is in a unique position to be able to deliver better value for money for consumers.
However, he said that the government is going to have to work on the long term vision to make the price more affordable for all.