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India Mulls $10 Billion for Fund on Energy
Keywords:
India's current account deficit of 4%- with imports exceeding exports of goods and services- and its small foreign exchange reserves of $293 billion as of April 14, 2012, place serious constraints on building a sizable energy fund to support additional imports of coal and other energy supplies. India is facing severe shortages of coal for the power industry. This places constraints on the country's growth rate. Finance Ministry officials and members of the Planning Commission are looking at setting up a $10 billion energy fund for securing additional supplies of crude oil and coal. Energy imports are placing a strain on India's finances and even the relatively small fund will need money from energy companies in the private sector.
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Linked Articles
India Mulls $10 Billion for Fund on Energy
Wall Street Journal 04/25/2012
India Struggles to Dig Up Enough Fuel to Power Growth
New York Times 04/19/2012
Problems India faces in increasing power growth as its national power grid fails in 2012
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Problems include shortage of funds to finance imports of coal and energy and the failure to increase production at Coal India.
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India Mulls $10 Billion for Fund on Energy
Wall Street Journal 04/25/2012
India Struggles to Dig Up Enough Fuel to Power Growth
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