Personal Finance News

Electricity consumers to choose service provider soon

A very positive news for the local citizens is on the way. It feels like India will soon achieve its target of becoming a self-reliant economy as per the new reforms taking place one by one.

The Finance Minister Nirmala Sitharaman announced that the government will soon come up with a framework to allow the netizens to choose their service providers for electricity.

Earlier, the power sector was under the monopoly control of one service provider, now the time has changed.

A large number of power distribution utilities are owned by the state in the present scenario. All of them are unable to ensure 24*7 power to everybody. This is due to the fact that these discoms are cash strapped.

As we know that these are monopoly and the consumers have their right to choose their own service provider. In the wake of this, the government will soon come out with a framework to eliminate this scenario.

Also, the Finance Minister highlighted the financial pressure on the distributors.

Apart from this, the Finance Minister also announced a proposal to launch hydrogen energy mission by next fiscal year. Now what is it? It is to generate hydrogen from green power sources.

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