Reducing energy vulnerability; Messy regulatory footprints; episodes

From the early 1970s onwards, global oil shocks have roiled the Indian economy. At present, 24.3 per cent of total energy supply comes from imported crude oil and gas.

This macroeconomic vulnerability and security threat has been normalised. But there is plenty of sunshine in India and modern renewables can do more. At the end of 20 years of energy policy, the share of modern renewables stands at just 3.2% of the Indian total energy supply. The present policy paradigm isn’t working.

In my column in the Business Standard yesterday, I talk about Reducing energy vulnerability.

Regulatory architecture is the block diagram of multiple regulatory agencies and the footprint of each of them. In the Indian mainstream, clarity of the regulatory perimeter, and the absence of regulatory arbitrage or forum shoppying, is prized. Amrita Agarwal and I have an article on The Leap Blog on 27 March, where we suggest there are gains for society from some kinds of messy regulatory footprints. The desire for clarity and completeness of state power is the viewpoint of the state, and not necessarily optimal for the people.

Ep 25 of the Growth is Good podcast with Rahul Ahluwalia, Why firms build economies, 27 March.

Govindraj Ethiraj had me on his `Core report’ show talking about INR depreciation, on 24 March, drawing on my recent column in the Business Standard.