Prime Minister Narendra Modi has said that by 2030, 50 percent of India’s energy production will be met by non-fossil fuel, and by 2070 it plans ‘Net Zero’.
Mr Modi said that a silent revolution is taking shape in India with rising demand for electric vehicles (EV). State and central governments have extended incentives and subsidies for the EV sector.
Electricity Act 2003 has been enacted and came into force from 15.06.2003. The objective is to introduce competition, protect consumer’s interests and provide power for all. The Act provides for National Electricity Policy, Rural Electrification, Open access in transmission, phased open access in distribution, mandatory SERCs, license free generation and distribution, power trading, mandatory metering and stringent penalties for theft of electricity.
It is a comprehensive legislation replacing Electricity Act 1910, Electricity Supply Act 1948 and Electricity Regulatory Commission Act 1998.The Electricity Act, 2003 has been amended on two occasions by the Electricity (Amendment) Act, 2003 and the Electricity (Amendment) Act, 2007. The aim is to push the sector onto a trajectory of sound commercial growth and to enable the States and the Centre to move in harmony and coordination.