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India can convert a crisis into an opportunity

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On the import side, the biggest culprit contributing to the current account deficit is the inelastic demand for oil imports. A solution that kills many birds with one stone is for the government to facilitate the development of solar power in a big way under public-private partnership (PPA). This will cost next to nothing.

 

The government should act as a credit enhancer to tie up $50 billion from multilateral agencies in the US, Japan and China to import solar panels. This will enable development of 50 gigawatts (GW) of solar power. Read More

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