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will give detailed information about electricity consumption by different categories of consumers
& the transmission and distribution losses in various areas and enable corrective actions.

Box 9: Transitioning to clean energy

The two main pillars for mitigation action to achieve net-zero carbon ambition are transition to
clean and renewable sources of energy and storage of this energy. The World bank in its report
Minerals for Climate Action has in its report mentioned that this transition from conventional
fossil fuel-based energy to clean energy as well as battery storage will be more mineral intensive.
Minerals and metals like copper, aluminum, iron, manganese, nickel etc are critical for developing
clean energy sources like solar PV, wind, nuclear while minerals like lithium and graphite are
important for energy storage. Therefore, on the policy front, it is pertinent to prepare for this. In
this regard, the following is essential –

¾ Pace at which shift from conventional fossil-fuel based sources is made. The pace will determine
the extent and mix of investment in renewable sources of energy.
¾ With the developed countries as frontrunners of net-zero emission plans, it is important to
avoid the risk of being a late comer. The inelastic supply of minerals is already in increasing
the prices of minerals which is likely to shoot up even further in the future.

¾ Encourage R&D to ensure effortless switch to renewable sources of energy. This may also
include focus on developing technology that recycles, reuses and repurposes minerals.

The recent surge in prices of natural gas in Europe on account of higher energy demand coupled with
cold spells across the region and slower winds to run wind turbines has resulted in lower electricity
output. The energy crisis being experienced by Europe brings to the fore the need for having a
diversified mix of sources of energy of which fossil fuels are an important part. Simultaneously
focus should be laid on building storage for intermittent electricity generation from solar PV and
wind farms to ensure on-demand energy supply.

CONCLUSION

8.79 Initiatives under Atma Nirbhar Bharat including introduction of structural and procedural
reforms, record vaccinations, various PLI scheme designed to attract investments in sectors of
core competency and cutting edge technology, Make-in-India programme to boost domestic
manufacturing capacity, reduction of corporate tax rate, etc and steps to improve operational
efficiency have helped the industrial sector to keep up its ante. The sector has started to recover
steadily and according to the National Statistical Office, is expected to grow at 11.8 percent
in 2021-22.The performance of the Index of Industrial Production while a little subdued at
1.4 per cent in November 2021 vis a vis the same month in the previous year must be viewed
along with growth of 17.4 percent in April-November 2021 as compared to -15.3 percent in the
corresponding period of last year. Most components of IIP have recovered to the pre-lockdown
level.