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I am still fairly confident we will come out better than the West in terms of our overall development versus damage.
I'm not crying over surplus capacity... Surplus capacity is good for India. Surplus capacity means we can get more investors, can get more households and promise them 24/7 power.
I have very often held a view - and I am public about it - that if you run your operations inefficiently, you can't expect your consumer to pay for your inefficiencies.
As more and more money is coming into the formal economy, one can look at more attractive tax rates and lower tax slabs. Even if half the people who were in the informal sector move in to the formal economy and more taxes get collected, more money can be spent on the welfare.
I can't tell the people of India that we'll burden you with high costs because the West has polluted the world, now India will pay for it. Not acceptable to us.
Under Prime Minister Narendra Modi, we are looking to make India self-reliant in terms of power requirement, along with providing carbon-free sources of power, thus improving India's position globally.
Wind developers have realised the importance of transparent method of price discovery, which was demonstrated in the solar sector. They realise that bidding brings in efficiency, and tariff is right-sized.
Western countries have gone through their development cycle and enjoyed the fruits of ruining the environment over many years and are now giving us homilies and pontificating on responsibilities to the environment. I think they need to look inward.
We aim to encourage investments that ease our supply-side bottlenecks, such as rural roads, cold-storage, and grain-warehouses, which will also help us combat inflation.
PM Modi has provided visionary leadership with his focus on the welfare of the poor and inclusive nature taking along his whole team, including states, parties, all schools of thought, all sections of society.
If inflation is brought down, interest rates will fall. Once rates fall, we have the opportunity to maybe achieve the goal of 'housing for all' faster; take roads, infrastructure to India's interiors.
People of India deserve to be complimented for making the 2014 elections a referendum on the misrule of the Congress-led UPA and demonstrating their faith in a proven new leadership.
We cannot have a system that everything can be passed on to the final consumer in the garb of cost being recovered without being sensitive to their own problems and affordability.
I can't tell my people that you will get power only from 6 A.M. to 5 P.M., and after that, we live in darkness. You need 24-hour power; you need a baseload, and that baseload for India is coal. We are looking at clean coal technologies to reduce the impact of pollution.
If you are moving the informal economy into the formal economy, and if the transactions which for years were never reported as part of GDP are now transacted through banking channels, it will only add to the GDP, not reduce the GDP.