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Kerala Kaumudi Online
Thursday, 27 January 2022 11.00 PM IST

Private investment in the power sector

power

In all developed countries, development has not been funded by the government alone. Comprehensive development is possible only when the private sector invests more or less with the government. Otherwise, foreign investment is needed to make development possible. In India, three-quarters of a century after independence in India, development has not even reached adolescence. The main reason for this is the view of the rulers that all development should come through or under the supervision of the government only. As part of this, five-year plans were launched. But all development went on like any other government service. The license raj was introduced to prevent the private sector from coming forward with investments. In general, this seemed acceptable to the general public at first, but it stagnated the future growth of the country.
China, which opened its doors to foreign investment in the 1980s, has grown into one of the world's largest economic powers. The biggest problem plaguing all governments, be it central or state, is lack of money. The only way to solve this is to ensure the participation of the private sector in development. The decision of the Kerala Electricity Board to open the door for privatization for the first time is welcome. Projects worth Rs 2400 crore related to non-conventional energy generation are being handed over to the private sector.

An investment meeting is being held in Thiruvananthapuram on January 5 to find entrepreneurs.
Privatization will be done on a build-own-and-operate basis. Vizhinjam Port and Thiruvananthapuram Airport are already following this pattern. There has been a concern among the people for years that the private sector will loot the people. But in the experience of telecom and others, people have realized that this is wrong. If the private sector is going in the wrong direction, the government should only take the responsibility of controlling it. The need of the hour is for the government to give the green signal to private investment not only in the power sector but also in other public sectors that require investment.

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