Integrated Energy Policy gets Cabinet nod

Keeping an eye on the long-term sustainable growth and energy security, the Cabinet on Friday approved the integrated energy policy of the country.

Briefing media persons after the meeting chaired by Prime Minister Manmohan Singh, Union Home Minister P Chidambaram said the Cabinet has also decided to set up a monitoring committee under the chairmanship of Cabinet Secretary for reviewing the progress of implementation of the policy.

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The Integrated Energy Policy envisions a roadmap for sustainable growth with energy security over a reasonable period of time.

The Home Minister said that India needs to sustain an economic growth of at least 9 percent over the next 25 years if it is to eradicate poverty and meet its larger human development goals.

Meeting the energy requirements of this growth in a sustainable manner presents a difficult challenge and one that has become more formidable following the steep rise in international energy prices since 2006, he added.

The policy, prepared by the Planning Commission, aims at maximum exploitation of domestic energy resources and exploring and acquiring energy assets abroad to attain energy security for the country.

In an another important decision, the Cabinet Committee of Economic Affairs also nodded for setting up of one thousand new polytechnics across the country for the skill development with emphasis to cater the needs of un-served, under-served areas and disadvantage sections of the society.

Chidambaram said that the first 300 polytechnics are to be set up with the central grant of Rs. 12.3 crore per polytechnic, and another 300 polytechnics would be set up under the public-private partnerships for which the Centre would grant Rs. 3 crore per polytechnics. The rest 400 polytechnics would be set up through private funding.