Investment in Power Sector: Past Trend and Short-Term Prospect

T.R. Satish Chandran
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T.R. Satish Chandran: Chairman, Board of Governors, ISEC, Nagarabhavi, Bangalore - 560 072.

Journal of Social and Economic Development, 2003, vol. 5, issue 1, 40-68

Abstract: Investment in the power sector from the 50s to the 80s of the last century was almost wholly in the public sector. Power sector reform, which began in 1991, opened the doors to private investment but the response has been poor. Public sector investment in power as a part of Plan outlay has declined in the Eighth and Ninth Plan periods, especially in the States. The progress of Distribution reform at the State level, which is crucial for attracting private investment, has been halting and uneven. The interim solution is to step up public investment; this has been factored into the Tenth Plan. For maximum result, public sector investment in power projects should be leveraged through joint ventures with private investors. There is urgent need for political commitment at both Central and State levels to a time-bound reform agenda.

Date: 2003
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