PM launches 'Saubhagya' scheme to provide power to all

New Delhi: Prime Minister Narendra Modi on Monday launched a Rs 16,320-crore scheme - Pradhan Mantri Sahaj Bijli Har Ghar Yojana 'Saubhagya' - to provide electrical connections to over 4 crore families in rural and urban areas by December 2018. "Rs 16,000 crore will be spent to bring a monumental change in the lives of the poor," Modi said while launching the 'Saubhagya' scheme here.

The prime minister regretted that even after 70 years of independence 4 crore out of 25 crore families did not have access to power.

Under the scheme, the government proposes to provide electricity to all households by December 2018, ahead of the earlier target of March 2019.

All villages would be electrified by December this year ahead of the scheduled deadline of May 1, 2018.

"This is a reflection of working style and willpower," Modi said adding, power connection will be provided free of cost to all poor families under the scheme.

New Delhi: That Prime Minister Narendra Modi is taking the current economic slowdown and inflationary tendencies very seriously became evident on Monday when he chose one of the world's most outstanding economists, Bibek Debroy, as chairman of a newly formed panel — to be called Economic Advisory Council (EAC.) The five-member EAC will have NITI Aayog Principal Advisor Ratan Watal as member and economists Surjit Bhalla, Rathin Roy and Ashima Goyal as part-time members. Debroy is now serving as NITI Aayog member.

The creation of the Bibek Debroy-led EAC has generated enormous interest among both the the Indian and global business fraternity as the Prime Minister already has a Chief Economic Adviser (Arvind Subramanian) as well as a high-profile policy think tank (NITI Aayog) to give him key inputs in the formulation of a national economic programme that envisages both high growth and inclusiveness. By inducting an intellectual titan of Debroy's caliber and stature into his core team, the PM obviously wants to strengthen the quality of economic thinking that goes into policy making and generate a strong positive sentiment among potential investors — both private and government, domestic and foreign. There can hardly be a better choice for this than Debroy, say economists, policy fraternity members and India Inc.