Power for all requires Rs 9 lakh crore, says NTPC chief

India's power sector needs an investment of Rs 9 lakh crore to make electricity available throughout the country.

C P Jain, chairman and managing director, NTPC, said this in his inaugural address at a national seminar with a special focus on "India's Power Sector - Poised for a sustainable growth" organised recently by India-Tech Foundation, a public trust and an apex industry association.

He added that since over 50 per cent of the homes in the country are yet to be electrified and the investment needed to achieve this target is also huge, the Central and the state power utilities can not alone meet these targets.

He, therefore, invited the private sector to come forward in a big way in transmission, distribution and generation segments in order to fulfill the vision of 'Power for all by 2012'.

He also said that the open access system in the Electricity Act, 2003 would give a boost to the power sector and improve the performance of the industry and the economy on a whole.

According to Indra Mohan, president, India-Tech Foundation, power is an essential building block for economic progress and the seminar intends to come out with some concrete suggestions to achieve the said goal.

He further added, 'With wide ranging fiscal measures including cut in customs duty, abolition of special ad valorem duty, etc, the power sector is poised to meet global standards."

S K Misra, chief secretary, Chhattisgarh, in his address highlighted the opportunities available in the power sector in the state.

Senior government officials such as K N Sinha - member, CERC; Pradeep Kumar- additional secretary, Coal & Mines; A K Srivastav- joint secretary, Petroleum & Natural Gas; Sudhir Mohan - adviser, Ministry of Non-Conventional Energy Sources and leading technocrats from the industry were some of the noted speakers at the seminar.