On the import side, the biggest culprit contributing to the current account deficit is the inelastic demand for oil imports. A solution that kills many birds with one stone is for the government to facilitate the development of solar power in a big way under public-private partnership (PPA). This will cost next to nothing.

The government should act as a credit enhancer to tie up $50 billion from multilateral agencies in the US, Japan and China to import solar panels. This will enable development of 50 gigawatts (GW) of solar power. Read More

Jyothi Shankaran

    Jyothi’s last role was as Senior Editor with the business news channel Bloomberg TV India. He also worked as News Editor at business-standard.com, the online version of the business newspaper Business Standard. Jyothi is a chemical engineer from the Regional Engineering College, Srinagar.