Piyush Goyal: The harbinger of change in the power sector

Son of late Ved Prakash Goyal who had served as a Union Minister for shipping in the Atal Bihari Vajpayee cabinet, Piyush Goyal, the Minister of State with Independent Charge for Power, Coal, New and Renewable Energy and Mines, has in the past three years completely transformed the power and energy scenario in the country.

The days of power shortages are over. In fact, for the first time India has become a power surplus country. The CA-turned-politician Goyal, who was given the task of reviving the country’s comatose power sector, has not only made electricity accessible and affordable, but also made India climb to the 26th position in the World Bank’s electricity accessibility, which was 99 in 2014.

The most important aspect of Goyal’s plan is the stress on renewable energy. The heartening part is that the amount of coal required to generate a unit of electricity has decreased by 8 per cent in the last three years as rapid growth in the renewables has pushed the green energy share to 30 per cent with significant contribution from hydro and wind generation being supplemented by fast expansion in solar power. This is in line with India’s commitment to curbing carbon emissions under the Paris climate agreement.

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