Mr Prabhajit Kumar Sarkar, MD & CEO, Power Exchange India (PXIL)

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Mr Prabhajit Kumar Sarkar, MD & CEO, Power Exchange India (PXIL)

“The Union Budget for 2021-22 presented by the Finance Minister Nirmala Sitharaman today, has given a big push to the power sector by announcing close to Rs 3.06 lakh crore power distribution sector scheme. We welcome this move as it is expected to assist discoms for infrastructure creation tied to financial improvements, including prepaid smart metering, feeder separation and upgradation of systems. Additionally, the government’s proposed framework to give consumers more than one discom choice was a much-needed move. It will help to enhance efficiency in the power distribution sector, induce fair competition and address the monopoly business of discoms. Besides, we foresee that reforms such as Rs. 1,500 crore allocation for the renewable energy sector, 100% Railway electrification & expansion of metro rail networks and hydrogen energy mission for generating hydrogen out of green-powered sources will contribute significantly in enhancing the country’s power demand. PXIL, as a national power market infrastructure institution welcomes the budget announcement and is ready to provide an efficient platform for enhanced volume of trading and efficient electricity price discovery in the country.”

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