PMO reviews energy sector, to fast-track Mines Act

Aiming to boost energy production, Government has decided to fast-track the new Mine and Mineral Act and give impetus to power generation which is expected to touch the record level of 17,000 MW this year alone.

The decisions to give fillip to the energy sector were taken at a review meeting convened by the Prime Minister's Principal Secretary TKA Nair with Secretaries of nine ministries and departments, including Coal, Power, Mines, Petroleum and Natural Gas, Steel and New and Renewable Energy.

Taking stock of the existing level of energy production, the meeting noted that during the 11th Plan, the power generation was expected to be of the tune of 52,000 MW against the 10th Plan's 21,000 MW, sources said.

The meeting decided fast-track the new Mine and Mineral Development and Regulation Act, the sources said.

Reviewing the steel production aspect, the meeting discussed restructuring of Hindustan Steel Works Construction.

The meeting was told that through a combination of measures, India would become net producer of steel by next year and by 2016, the country is likely to become the second largest steel producer in the world, overtaking the US and Japan.

It was noted at the meeting that energy is being generated from new sources, like solar and windmills, but it was not reaching the consumers for lack of adequate grid connectivity.

In this regard, the meeting decided that government would provide whatever finances were required after an assessment of the funds needed, the sources said.

The meeting was told that the country had the potential to have record energy production of 17,000 MW this year alone.