Consider the ways in which the government is attempting to empower the unbanked and underserved populations and enhance their access to financial services by means of expanding the Jan Dhan Yojana, offering microcredit and insurance, and utilizing digital platforms.
Natural gas is a multipurpose fuel that can be used for power generation, industrial processes, transportation, and domestic use. India's natural gas demand has been growing steadily and is expected to nearly double by 2030. Therefore, through the National Gas Grid, the government is trying to ensurRead more
Natural gas is a multipurpose fuel that can be used for power generation, industrial processes, transportation, and domestic use. India’s natural gas demand has been growing steadily and is expected to nearly double by 2030. Therefore, through the National Gas Grid, the government is trying to ensure its availability in all parts of the country as a reliable and cleaner source of energy. Its adequate availability and equitable distribution can stimulate economic activities, improve productivity, and enhance the overall standard of living in following ways:
- Adherence to the climate goal commitments: Being a cleaner fuel it will help the country in achieving SDG and Paris Agreement commitments to reduce its carbon footprint in a phased manner.
- Meet the rising demand: While the Automobile companies are gradually moving away from diesel vehicles to meet the BS VI norms, the next in line alternatives for automobile fuel are LNG and CNG.
- Positive trade balance: Shifting towards a Gas based economy will reduce our crude oil bills and make the balance of trade favourable for India.
- Improve accessibility: At present, for every million population only about 12.3 km of natural gas pipeline exists in India. National grid can address the accessibility issue as well as existing regional disparities.
- Economical & uninterrupted delivery of fuel: Establishment of a pipeline ensures safe, economical and uninterrupted supply of Natural gas, CNG and PNG to various end users.
Despite the potential benefits, there are several challenges India faces in this regard:
- Capacity utilisation of pipelines: The existing natural gas pipelines are currently operating only at 10% to 20% level of utilisation. Further, pipelines operating for over 10 years have been constrained by limited availability of domestic gas.
- Functioning of Petroleum and Natural Gas Regulatory Board (PNGRB): The regulatory body is marred with several key position vacancies, even the position of Chairperson stands vacant thereby reducing the body’s efficiency.
- Delays in project execution: There are various delays in laying the pipelines due to land acquisition, issue of right of use and multiplicity of agencies.
- Skewed coverage of PNG: The PNG connections are not able to reach every household even when that particular area has been marked as covered as penetration level is not marked as a criterion.
- Infrastructure and financing gaps: Building an extensive gas pipeline network requires significant investment in infrastructure. Attracting long-term investments and financing mechanisms that ensure economic viability and sustainability of the grid is a crucial challenge.
Nevertheless, expansion of the natural gas infrastructure and market will bring along several benefits like socio-economic empowerment, import-substitution, emission reduction, and green energy solutions at affordable prices. Further, natural gas shall address India’s energy security concerns to a greater extent.
See less
Government Efforts to Promote Financial Inclusion Financial inclusion is a critical component of economic development, aiming to provide access to financial services to all segments of the population, especially the unbanked and underserved. The Indian government has implemented several initiativesRead more
Government Efforts to Promote Financial Inclusion
Financial inclusion is a critical component of economic development, aiming to provide access to financial services to all segments of the population, especially the unbanked and underserved. The Indian government has implemented several initiatives to advance financial inclusion, including the expansion of Jan Dhan Yojana, the provision of micro-credit and insurance, and the use of digital platforms. This analysis examines these efforts and their impact on empowering marginalized groups and improving access to financial services.
1. Expansion of Jan Dhan Yojana
2. Provision of Micro-Credit and Insurance
3. Use of Digital Platforms
4. Overall Impact and Challenges
Conclusion
The Indian government’s efforts to promote financial inclusion through programs like Jan Dhan Yojana, micro-credit and insurance schemes, and digital platforms have made substantial strides in improving access to financial services for marginalized populations. These initiatives have empowered individuals, supported economic activities, and enhanced financial stability. Continued focus on expanding coverage, addressing implementation challenges, and leveraging technology will be essential for achieving comprehensive and inclusive financial inclusion.
See less