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Thrust on integrated energy policy needed: Kirit Parikh

We have to think from the long point of view, and renewable energy is clearly the solution. But, we need to do it in a balanced manner, says Parikh

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Thrust on integrated energy policy needed: Kirit Parikh
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Describing the central government's thrust on renewable energy as a step in the right direction, Kirit Parikh, a former member of the Planning Commission, stressed on the need for having an integrated energy policy.

"The thrust on renewables is in the right policy direction. We have little gas and oil and are import dependent. Even 20-25% of our coal requirement is now imported. We have to think from the long point of view, and renewable energy is clearly the solution. But, we need to do it in a balanced manner. Rather than looking at just coal, gas, and oil or renewable, what we need is an integrated energy policy," Parikh said on the sidelines of a conference on gas, on Thursday.

"Perhaps some rethinking might be useful – how we are going to get there (175 GW renewable energy capacity target by 2022), and what is it that is required. We need to phase it in the right manner," he said further. While the central government is aiming to attract billions of dollars of investment in oil and gas exploration, Parikh said the 'government risk' was deterring many investors. "Many large MNCs that go for exploration around the world do not assess that India has that much of potential or sufficient size for them to invest. We also do not have very promising reserves. Also, there is government risk. A company takes technical risk and market risk, but we add to it government risk by way of policy uncertainty and flip-flops.

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The former member of Economic Advisory Council to PM said, “I see a lot of black clouds and also lots of silver linings as far as Indian economy is concerned. But I feel you can see some real green shoots, and the economy seems to be turning around. I’m hopeful we will have a higher growth rate next year.

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