Subsidy is a restraint factor: Piyush Goyal

Global engagement should be on the terms that are set by us, and not by someone else, he said.
  “Subsidy is a restraint factor to any good program. On the other hand, an economically viable solution will have no limits to its ability to expand and be used,” said Power Minister Piyush Goyal while talking to the media on the sidelines of IEEMA’s annual convention.
Highlighting the current situation of the Indian electrical equipment market, he said, “We are still importing electric goods worth $10 billion, and this is a matter of concern. The current times are those of globalisation and we cannot be isolated. However, that global engagement should be on the terms that are set by us, and not by someone else. Energy and power security is an integral part of our national security.”
This year Indian Electrical & Electronics Manufacturers’ Association (IEEMA) organised its annual convention on the theme of ‘Electrifying Prosperity’.
Challenges The minister agrees that the challenges in the power sector are huge. “We will have to plan and stand on our own feet and win the battle. If India becomes dependent on some other country for any resources at any crucial juncture, it will be a tough time dealing with such a situation. Hence it will be wise to become sufficient and reduce the list of imports,” he said.

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