Reformed Indian Policies: Dawn for the Nation

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1 Reformed Indian Policies: Dawn for the Nation Mastar Akash B.A LLB(Hons.),IX Sem University of Petroleum and Energy Studies, Dehradun Anuveeta Datta Chowdhury B.Com LLB(Hons.),III Sem Abstract: Purpose To make India the more powerful nation among all the countries with good governance system based on justice, equity and good conscience. Through which the government and the citizens always be obliged to their Motherland. Design/methodology/approach The researchers have adopted doctrinal and empirical methodology which are further enhanced by analytical findings of different aspects. The researchers mainly focused on qualitative and quantitative form of research methodology. Findings The very practical things which the researchers found that the number of policy which framed till now are enough to the overall development of the nation, but its implementations are not being made properly, and what so ever implied is only for the self benefit irrespective of the Nation. Research limitations/implications Since independence,the policies framed by the different government for the development of the Nations is huge in number,but even after that the researchers tried to overview the aspects of policies of different fields and to conclude in a general manner,by focusing on the implantation process of the policies in the society. The researchers are unable to cover all the policies regarding different aspects Practical implications The policies which are framed by the government, it must be oriented towards society. Law is the most acceptable instrumental tool for social changes.it should be borne in mind that the policies made should contain features which are adaptable to practicability of implementing in the society rather than being obsolete. Originality/value The researchers have collected the information which is factual in nature by following proper research methodology. Further the researchers state that the research work is original and provided sources are authentic. ISBN no Page 531

2 Keywords Reforms, Good Governance, Economy, Policy, Challenges, Intellect, Necessities. Paper type-white Paper. Introduction India is recognized internationally as a nation that provides higher level of training to develop human skills. Owing to the globalization of the job markets, the demand for Indian skills is rising. Moreover, the service sector, the fastest growing sector in the Indian economy requires trained human power at various levels. As the world demography is changing take advantage of the change, the government have to supply trained persons on par with global standards. The student community in the rural, semi urban and urban areas want to be a part of the new economic revolution. Proactive efforts are made to attract young members to bring the disadvantaged groups into the mainstream of higher education. Government devising wellsigned and consistent remedial support, both at the academic and financial levels. The Policy Reform and Market Forces scenario are optimistic in their assumptions that businessas-usual is sufficient to meet the mounting challenges facing humanity.the policy landscape in India has progressively evolved since Independence and has led to radical changes in the power sector, especially in terms of competition, private sector involvement and focus on green energy over the last decade. The Indian economy had experienced an unprecedented economic crisis during the early 1990s. The balance of payments situation was precarious. There was a sharp decline in foreign exchange reserves, and capital inflows through commercial borrowings and non-residents deposits. 1 The country was experiencing large and persistent macro-economic balances, low productivity and a low rate of return from investment. To make the India in the path of success is not an easy task, but it s a duty of every citizen to be a part of the India in the way of progress. As it is known to us that the executive or the 1 Greening Reformation in India: Challenges and Opportunities,Divya Dutta ISBN no Page 532

3 government plays an important role for the betterment of the nation but even after the Independence till now date, they are unable to attain that point of success, which is known as basic necessities, like toilet, proper education, foods etc. So, for the betterment of the nation growth the government form number of policy, and also implement without wasting the time, but it s also not sure that what the government form the policy its really change the life of the people, because people are not much concern about their duties asual as their rights. They might ask for their rights but they generally forget their duties. Because not any policy will be properly formulated without the support of the people. Whatever the policy should be framed by the central government, and then it s bounding on all the states. But even after that the proper implementation must be require and it must possible with the active participant of the State Government asual as the media. Investors have closely watched India s economic trajectory since its economic reforms in the 1990s. But the narrative of what is in store for India continues to evolve. A year ago, economists were predicting that India s economy would expand rapidly in the coming years many said it could grow even faster than China s. For example, an influential Morgan Stanley report predicted that India s young labor force, high savings rate, and strong services sector would enable India to outpace China s rate of growth within three to five years, reaching annual real GDP growth of 9 to 10 percent. Today, however, such predictions seem to have been premature. Following a decade of expansion, India s economy grew at its slowest pace in two years from July to September 2011, and economists are forecasting a continued slowdown in the near future. Over the past year, India watchers have turned increasingly pessimistic about its growth prospects and place much of the blame on India s government for not coming through with needed reforms. Instead of engaging in the debate, this report starts from the premise that India offers tremendous opportunities and looks forward focusing on the most effective things India can do to unleash the next wave of economic growth. The fiscal deficit of the central and stare governments reached an alarming level there was a steep increase in external and internal debt. The country began to experience double- digit inflation. This was the context in which the then Congress government implemented the Structural Adjustment Reforms in The thrust of the reform process was to increase the efficiency and international competitiveness of industrial production, and to utilize for this purpose foreign investment and foreign technology to a greater ISBN no Page 533

4 degree than in the past. The stress was also on increasing productivity; modernizing the financial sector and attaining a technological and competitive edge in the fast-changing global economy. In addition, India s government has so far failed to deliver on many of the pro-business reforms it promised when the Congress-led government was reelected by a landslide in The session of Parliament that ended in December 2011 was notable mostly because the government backtracked on a meaningful reform that would have allowed foreign direct investment in multibrand retail and would have opened up a $450 billion sector to companies such as Walmart. Parliamentary lethargy, the fall-out from recent corruptions like scandals, and the Congress party s need to cater to its base of largely agricultural, indigent voters have each slowed down pro-business reforms. While foreign companies investing in India would welcome all of the probusiness reforms that are already on the government s agenda, two areas of reform infrastructure and education will give India the biggest economic boost. India s inadequate transportation infrastructure and problems providing electricity currently shave approximately two percentage points off its annual GDP growth. The government plans to spend $1 trillion on infrastructure over the next five years, 50 percent of which is expected to come from the private sector. But further reforms to encourage and facilitate private sector investment are also necessary, as this report highlights. The event will provide opportunities for exchange with other European countries to discuss about efficiency, the steps to reconcile the need of a national activation strategy with regional implementation and the adequate balance between national coordination tools and the autonomy of subnational entities. Reforms and Vision There have been exclusion problems in the country. In other words, real development in terms of growth shared by all sections of the population has not taken place. The people of Indiasuffers from the problems of poverty, unemployment, inequalities in access to health and education and poor performance of agriculture sector. India has one of the largest and youngest pools of labor in the world. This could provide an enormous boost for economic expansion, as young Indians enter the labor force and the age dependency ratio becomes more favorable. ISBN no Page 534

5 Current reform in India has had two parts stabilization and structural. The stabilization polices were intended to correct the lapses and put the house in order, while the structural policies were intended to accelerate economic growth. The major thrust was towards creating a more competitive environment in the economy as a means of Improving the productivity and efficiency of the system. The trade policy sought to improve international competitiveness. To improve the efficiency of the public sector, it was made to compete with the private sector. As earlier reserved for the public sector were opened to the private sector. The reform also advocated that the public sector must withdraw from the areas where no public purpose is served by its presence. The principle of market economy became the main operative principle for public sector enterprises, unless the commodities and services produced and distributed were specifically meant to protect the poorest in the society. Since the initiation of the reform, there has been a significant change in opinion regarding the roles of the government and the market. The dominant opinion seems to have moved away from market failure reasoning, in favour of government intervention in health, to government failure reasoning in favour of marker intervention. The definition of the market has undergone a significant change from the one with narrow geographic boundaries to the one with almost no boundaries. The reform is now more than a decade old. From a nation of widespread famine and perennial dependence on foreign aid to feed her population in the 1960s, India is progressing to a selfsufficient nation in food production. Within a span of about three decades. The GDP registered a higher growth of 9.3 per cent in , compared to 2.7 per cent achieved during the Third Five Year Plan period. It is projected to grow at around nine per cent over the next five years it is also hoped that India will become one of the top five countries in the world in terms of GDP by As the central government makes a policy, they simultaneously act seriously in proper implementation because people must require knowing about the policy. Generally it s always not possible that the policy which formed will become success; there also chance to fail of the policy, so proper implementation and run the policy is become challenges to the executive body. The acceleration of growth is a goal that the government considers essential to reduce poverty significantly (five per cent by 2007 and 15 per cent by 2012) as per the targets envisaged in the ISBN no Page 535

6 Tenth Five Year Plan. If this happens, India would be healthier, better educated and more prosperous by There are number of challenges and opportunities for the government in making the policy success, framing of policy is better in context of future for the development of nation and also its economic growth. The government can framed the policy in all aspects, like infrastructure, rural development, power & sector, health, education, agriculture etc, but it also kept in mind that does it properly implemented or not. The Indian economy has experienced unprecedented economic growth over the last decade. Today, India is the ninth largest economy in the world, driven by a real GDP growth of 8.7% in the last 5 years. In 2010 itself, the real GDP growth of India was 5th highest in the world, next only to Qatar, Paraguay, Singapore and Taiwan. Budget as a tool of environmental policy: the concept Economic theory places great faith in the invisible hand of the market, which ensures that all agents acting in self-interest eventually lead to an allocation of resources that is best for society as a whole. However, environmental resources present the classic case where the conditions for efficient functioning of the market break down, 2 when private means conflict with the social ends of an efficient allocation of resources (Hanley Shogren, and White 2001). Four cases of this market failure are relevant for environmental resources. Externalities: when the market price or cost of production of a commodity excludes its social impact, for example vehicular exhaust. Public goods: When a person cannot be excluded from the provision of a good (nonexcludability) and ones consumption of the good does not reduce its availability to another (non-rival consumption), for example biodiversity. Common property: Case of an impure public good characterized by non-excludability but rivalrous Consumption, for example open access to fisheries. Hidden information: When a person cannot observe the hidden action of others (moral hazard), for example difficulties in monitoring industrial emissions, or when one cannot observe the hidden quality of a good or service (adverse selection), for example 2 Greening the Budget: case studies ISBN no Page 536

7 difficulties in distinguishing a cleaner product from another produced using standard practices. In the face of such failures, economists argue that the solution is not always to turn to command and control interventions but to redeem the markets by adjusting existing ones or creating new ones (Hanley, Shogren, and White Market failures are not always the most serious threat to ecosystems. Policy failures, for example, subsidies for certain goods, services or practices that cause environmental degradation are often regarded as more serious. Such subsidies are so widespread that often subsidy removal is ranked as one of the main instruments of environmental policy. It is important to note that environmental policy is not about a choice between market-based and command and control instruments. Putting the Indian Economy on a Fast-Track It has been a historic year for the Indian Economy. 3 From a period of low growth, high inflation and shrinking production, the NDA Government has not only strengthened our macro-economic fundamentals, but has also propelled the economy to a higher growth trajectory. India s GDP Growth rocketed to 7.4%, which is the fastest among all the large economies of the world. Various rating agencies and think tanks have predicted that India s growth would accelerate sharply in the next few years under the NDA Government. Banking on the strong fundamentals & reforms being undertaken by the NDA Government, Moody s upgraded India s rating from stable to positive recently. When BRICS was launched, a lot of people felt that the I (India) does not belong to the league and India was seen with skepticism. Now, it is India which is perceived to be powering the BRICS as its growth engine. With the Government s thrust on manufacturing, Index of Industrial Production grew at 2.1% this year after the negative growth last year. Inflation (WPI) has seen a steady decline, from 5.55% in April 2014 to -2.65% in April FDI Inflows are increasing at a historic pace. The 3 Available at visited on 21 st August,2015 ISBN no Page 537

8 FDI Equity Inflows shot up by 40% to reach Rs 1, 75,886 crore from Rs 1,25,960 last year. The Fiscal Deficit is in a state of steady decline. 4 India s current account deficit reduced from 4.7% of GDP last year to 1.7% of GDP this year. India s Foreign Exchange Reserves have increased significantly, from $ Billion to $ Billion. This will provide insulation to India in the event of any global shocks. Empowering Different States Equally with boost to Federalism In a unique departure from the past, PM Modi has stressed on the need to leverage co-operative & competitive federalism to achieve all round growth. For a long time, it has been observed a Big Brother relationship between the Centre & States. A One Size Fits All approach had been used for years, not taking into account the heterogeneity of different states and their local requirements. The NITI Aayog was formed to further empower and strengthen the states. An important evolutionary change from the past will be replacing a Union-to-State one-way flow of policy by a genuine and continuing partnership with the states. NITI 5 Aayog will act with speed, to provide the strategic policy vision for the government as well as deal with contingent issues. NITI Aayog will work to evolve a shared vision of national development priorities, sectors and strategies with the active involvement of the states in the light of national objectives. The vision of the NITI Aayog will then provide a framework for a national agenda for the Prime Minister and the Chief Ministers to provide impetus to. It will also foster collaborative federalism through structured support initiatives and mechanisms with the states on a continuous basis, recognizing that strong states make a strong nation. It will develop mechanisms to formulate credible plans at the village level and aggregate these progressively at higher levels. In a landmark move, the NDA Govt at the Centre accepted the 14th Finance Commission s recommendations. This state would get 42% shares of tax revenue as compared to 32% earlier. Though, this naturally leaves far less money with the Central Government, the Government of 4 Ibid 5 National Institute of Transformation of India ISBN no Page 538

9 India has taken the recommendations of the 14th Finance Commission in a positive spirit as they strengthen and provide autonomy to States in designing and implementing schemes as per their priorities and needs. This is an unprecedented increase, which would empower States in all possible ways - they would be allowed to chalk-out their programmes and schemes with greater financial strength and autonomy, while observing financial prudence and discipline. In a novel initiative PM Modi was accompanied by two Chief Ministers on his visit to China. They participated in a landmark initiative: The Provincial Leaders Forum. This will usher in a new era of state to state co-operation. In a major boost to the states, particularly the coal rich states of east India, a major portion of the proceeds from the successful coal auctions would go to the states helping them immensely. Ushering in Reforms India is embarking on ushering in game-changing reforms through the use of Jan Dhan, Aadhar and Mobile (JAM), a unique combination of three to implement direct transfer of benefits. This innovative methodology will allow transfer of benefits in a leakage-proof, well-targeted and cashless manner. There would be cut in subsidy leakages but not in subsidy themselves. NDA Government has built a national consensus and introduced a Bill to amend the Constitution to implement the Goods and Services Tax (GST). The GST will put in place a state-of-the-art indirect tax system by 1st April, This will create a unified and common domestic market by replacing a confusing array of taxes and preventing their cascading effects. The Government has started a unique scheme called Sansad Adarsh Gram Yojana, encourage MPs to take ownership of a village in their constituency and develop this as a model village. It motivates parliamentarians to ensure holistic development of their constituency rising above specific schemes. The Government has approved the MoPNG proposal to supply pooled Natural Gas at uniform delivered price to all grid connected gas based fertilizer plants for urea production. It has also approved the scheme for utilization of stranded gas based power generation capacity which was a joint proposal from MoPNG and Ministry of Power and will help in revival of MW stranded gas based power plants. ISBN no Page 539

10 With the easing of investment caps and controls, India s high-value industrial sectors defence, construction and railways are now open to global participation. Policy in Defence sector has been liberalised and FDI cap raised from 26% to 49%.Portfolio investment in Defence sector permitted upto 24% under the automatic route.100% FDI allowed in Defence sector for modern and state- of- the- art technology on case to case labels.100% FDI under automatic route permitted in construction, operation and maintenance in specified Rail Infrastructure projects. A Month of Hope & Action A firm believer & practitioner of Minimum Government, Maximum Governance Prime Minister Narendra Modi made a unique start by transforming entity of assembled ministries to Organic Ministries to bring more coordination between different departments, will be more effective and bring a speed in process. Narendra Modi eventually aims at Smart Governance through integration & innovation. The Prime Minister is himself up with first rays of the sun & works till the wee hours in the night. This infectious vibrancy & positivity has spread to the different layers of the Government & officials are putting in their best. The urgency to clear files is palpable. On the Trail of Black Money The very next day after being sworn in, Narendra Modi s government announced the formation of a Special Investigation Team (SIT) to bring back black money stashed abroad. The decision was taken in the first meeting of the Union Cabinet chaired by Prime Minister Modi. The Reserve Bank of India has since asked banks to share necessary information with the SIT. This is in a stark contrast to the past where the Government dragged its feet in taking any concrete step to bring back black money back. This also elicits the priority the Narendra Modi led NDA Government gives to recovering black money. Paradigm Shift in Governance Prime Minister Narendra Modi, in his second Cabinet meeting unveiled a 10-point framework for good governance, assigning importance to the need to empower the bureaucracy to work ISBN no Page 540

11 without the fear. As soon as he took office he made it clear that his mantra for the Centre will be delivery and implementation. In a first, the Prime Minister also met the secretaries of all government departments personally to outline the agenda of governance, get ideas & suggestions from them & make them partners in the journey of development. Strengthening Team India In a marked departure from the norm of not giving due importance to the state governments, the present government puts special focus on co-operative federalism. The PM s stress, from day one, has been to take the states along with the Centre to strengthen the federal structure. Needs of Action not Acts The Central Government has been merely content with just passing new Acts while being little concerned with whether these Acts had translated into concrete action on the ground. Legislation is often a lengthy process and by the time a new Act is passed, the ground situation would have most likely changed significantly rendering it ineffective. But unfortunately the focus of the UPA Government has been on legislating new Acts with scant regard to the ground level realities of India. Narendra Modi has demonstrated out of the box thinking on various occasions on how tangible benefits may be delivered to the people by taking decisive action. When Narendra Modi took over as the Chief Minister of Gujarat, he observed that the school dropout rate was very high in Gujarat. He also felt the need to encourage and motivate students and parents with regard to the importance of education. A need was also felt to do a qualitative assessment of the large number of Government run schools. In such a scenario he came out with a multi-pronged effort, which transformed the education sector in Gujarat. Now it s time to start motivating students from very initial that they think about the betterment of their nation and must required to add up a subject in the school syllabus about the sacrifice what the people did for their motherland INDIA. ISBN no Page 541

12 He came up with a novel idea of starting Shala Praveshotsavs where all Government functionaries would go to the villages before schools re-open to boost and sustain student enrollment. Inspite of the scorching heat, all Government functionaries visited the remotest of villages and participated in Shala Praveshotsavs to make sure children start school in a festive mood. After analyzing the reasons for high female dropout rates in schools, it was discovered that the lack of toilets for girls was the main cause. Toilets for the girl child were built in schools all over Gujarat. Narendra Modi also took the very novel step of introducing Quality Assessment in schools. It has been a norm in our country to analyze schools only through the prism of infrastructure i.e. size of classrooms, toilets and drinking water facilities. Narendra Modi went a step ahead and developed a school quality assessment programme called Gunotsav in Gujarat. Such an assessment had been done previously only in business schools in our country! Narendra Modi, with his out of the box thinking also proved to be a change agent in the field of agriculture. While over 55% of our country s population is involved in agriculture, growth in this field remains around 3% for the last decade. On the other hand Gujarat, which has never been an agricultural state, has seen a growth of around 11% in the field of agriculture in the last decade. Despite large arid areas and depleting water levels, Gujarat achieved a significant turn-around in agriculture. Again it was Narendra Modi s innovative steps, which brought about the change. One of the most important interventions in this regard has been the Agriculture Extension service in the form of Krishi Mahotsavs. With these Mahotsavs, the Government made sure scientific training and guidance was imparted to farmers in each district of the state. They were encouraged to use drip irrigation and other innovative methods. They were also given scientific advice on the use of fertilizers and pesticides. While the citizens of this country still do not have a universal health card, Narendra Modi made sure farmers got their soil samples tested and rated on Soil Health Cards, so that they could understand the characteristics of their soil. Even their cattle s health problems were diagnosed and treated. He also made sure irrigation facilities increased rapidly and constructed a large number of check dams and similar structures. ISBN no Page 542

13 In the Energy Sector have revolutionized it and made sure citizens get uninterrupted 24-hour power supply, which is a distant dream in many other parts of the country. 6 When he took over as Chief Minister, the Gujarat Electricity Board was running huge losses and people had to face a lot of power cuts. It is to Narendra Modi s credit that he had the vision to think differently. In India, whenever a PSU is doing badly, either it is bailed out on tax-payers money, or is privatized. Narendra Modi chose a third option i.e. to professionalize the PSU. He divided the PSU into multiple units and special attention was given to cut down T&D losses. Electricity theft was punished severely and meters were installed in all rural areas. Today, not only is the company making a handsome profit, but people in the state have not seen a power cut for years. Similarly it was observed that farmers in the state were getting power intermittently as in the case with rest of the country. Narendra Modi s government came up with the Jyotigram Project, which bifurcated the feeders for agriculture and domestic use. As a result farmers get 24-hour electricity in their homes and a regulated 8-hour supply for their farms. The Centre even recommended this scheme to the other states. Hundreds of Chinese Companies Join Made in India Program. Hundreds of Chinese companies expressed interest in the Indian government s Made in India program as China faces increasing economic difficulties as sources of cheap labor dry up. India s government hopes that as the country moves toward becoming the world s workshop, hundreds of Chinese companies will become part of India s industry. China has actively entered Indian markets in recent years with Lenovo Group announcing that it began making smartphones in the Indian city of Chennai on Tuesday while Foxconn, the maker of iphones, plans to open a plant in each Indian state. As China s internal economic situation becomes more difficult, and cheap labor becomes harder to find, Chinese companies are looking to India for expansion. Chinese companies have expressed a serious interest in participating in the Made in India program, while Indian companies hope to establish themselves in China. 6 Available at visited21st August,2015 ISBN no Page 543

14 Government readies domestic workers policy, proposes Rs 9,000 minimum pay with benefits The draft National Policy for Domestic Workers, which would be soon moved for approval of the Union Cabinet, also calls for provisions against sexual harassment and bonded labour and recommends compulsory paid leave of 15 days a year as also the maternity leave. Besides, the Policy provides that the domestic workers be given a right to pursue education, a safe working environment and a grievance redressal mechanism. It also has a provision for mandatory contribution from the employer towards social security of the domestic workers. Workers and employers will also have rights to form groups and engage with each other for collective bargaining. The Domestic Workers Policy has to be framed. Domestic workers are also subjected to exploitation and therefore the welfare and protection of domestic labour force is very important, Dattatreya told PTI. The policy framework is on par with the standards of the International Labour Organisation. India has adopted the ILO convention on domestic workers and therefore the government must have to make a policy for this segment of the society. Once it comes into force, the policy will make it binding to enter into a tripartite agreement between the employer, the worker and the intermediary agency that connects the two. The draft policy recommends minimum monthly wage for unskilled, semi-skilled, skilled and highlyskilled categories of the domestic workers. Highly-skilled and those giving full-time service should be eligible to get a salary of at least Rs 9,000 per month, the official said, while adding that the aim of the policy is to empower the domestic workers by making this large workforce a services industry in due course of time. And even numbers of policy were framed by the Modi government e.g. Beti Bachao Beti Padhao Caring for the Specially Abled Digital India ISBN no Page 544

15 Clean Ganga Swachh Bharat (Clean India) and even number of; Government's policies will give complete 'economic freedom' "Prime Minister Narendra Modi has laid the foundation stone for economic freedom one year ago. Nation will get the complete economic freedom 5-7 years. 7 But people will get the feeling of economic change in three years, Several international financial rating agencies have termed India's economy as the fastest growing in the world. "First thing the government did after assuming power was to facilitate the poorest of the poor to open a bank account under the Prime Minister's Jan Dhan Yojana. Now, 99.7 per cent family is connected with banking system. The Jan Dhan Yojana has been included in the Guniess Book of World Record. The Home Minister said among various decisions of the NDA government, one was that whatever amount is to be paid to a foreign military arms vendors, half of the amount that vendor has to invest in India. "This will lead to setting up of more industries and creation of new jobs,. 8 Conclusion As it is known to all that India is even now the developing nation and it s require to increase the rate of development to attain the powerful asual as developed nation in respect to the entire nation. The main objective of framing the policy is for sustained growth and poverty reduction. So, it s require to teach the student from very initial, about their nation. That, they atleast think 7 Available athttp://economictimes.indiatimes.com/,last visited on 21 st August, Ibid ISBN no Page 545

16 about the betterment of their nation. And not follow the path of migration, Because Brain drain is really worst concept and hindrance in the development of the nation. Freedom is the ability to make choices and those choices come from being educated, employed or employable. The making of policy and its proper implementation and how to regulate the policy is only a function of good governance, because the policy is framed by the government for the futuristic benefit. And it s must require that whatever the policy should be framed regarding related with energy,power, infrastructure it must be in sustainable in nature it means, it does not affect the needs of future generation, Sustained growth in economy comes with growth from all sectors, among which growth in infrastructure sector is a key requirement for growth in sectors within manufacturing and services. With in infrastructure, growth in power sector is one of the most important requirements for sustained growth of a developing economy like India. Encouraging policy measures is much necessary for the rapid growth of the nation. Since independence till now, citizens are still under the groupsof developing nation, because the country don t have many innovative ideas, but we generally follow those paths, which the other country already started long back. However, most of the participation by private investors has happened in generation sector, driven by de-licensing of generation, fiscal incentives for large scale capacity additions and competitive procurement of power. Now it s a common concern of the entire nation to be more powerful than the other mainly in the aspect of economic purview. So for that we have to make those policy which really provide the way to massive growth, and as per that its must require that the government framed the policy and make concern regarding some energy asual as power sector like; Power, Electricity distribution, Oil & Gas, Renewable Energy, Coal etc. The Indian power sector has achieved a lot over the last decade in the areas of policy reforms, private sector participation in generation and transmission, new manufacturing technology and capabilities, but there is still much to achieve and a number of challenges to overcome before the opportunities can be leveraged. Indian power sector has made considerable progress in the last ISBN no Page 546

17 decade and has evolved from a nascent market to a developing market led by policy reforms and increased private sector participation. ISBN no Page 547

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