POSOCO renamed as “Grid Controller of India Limited”
Power System Operation Corporation Limited (POSOCO), India`s national grid operator, was renamed Grid Controller of India Limited.
Key Points
- The Grid Controller of India Limited (Grid-India) is a wholly owned central government enterprise that comes under the aegis of the Ministry of Power.
- Previously, it was a fully owned subsidiary of the Power Grid Corporation of India Limited (Powergrid) – the central public sector undertaking (PSU) owned by the Union Power Ministry.
- It was set up in March 2009 to take care of the power management functions of the PGCIL.
- It was later made a separate company, with PGCIL being involved only in setting up transition link.
- Grid-India, as a separate company, was given the load despatch functions. It oversees the operations of the national load despatch centre (NLDC) and 5 regional load despatch centres (RLDCs). The NLDC is the apex body that ensures the integrated operation of national power system.
- Grid-India currently works as the nodal agency for major reforms in the power sector like the implementation and operation of Green Energy Open Access Portal, Renewable Energy Certificate (REC) Mechanism, transmission pricing, short-term open access in transmission, deviation settlement mechanism, Power System Development Fund (PSDF) and others.
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Why was the name changed?
The name was changed to reflect the important role played by the grid operators in ensuring integrity, reliability, resilience and sustainable operation of the Indian electricity grid. It also points to the unique position held by the Grid-India in connecting people to energy they use. The name reflects the functions performed by the grid managers in India at the national and state levels. It also explains the role played by the Grid-India in the country’s transition towards renewable energy. It also reflects the vision of the PSU to become a “global institution of excellence for reliable and resilient power systems, fostering efficient electricity markets, promoting economy and sustainability”.
### In "Our LiFEtime" Campaign Launched by India at COP 27
The In "Our LIFEtime" campaign was jointly launched by the National Museum of Natural History (NMNH), the Ministry of the Environment, Forests and Climate Change, and the United Nations Development Programme (UNDP).
About This Campaign:
This programme aims to identify young people between the ages of 18 and 23 who can spread the word about sustainable living.
The campaign gives a global call for ideas from youth across the world who are passionate about living environment conscious lives. The youth will be encouraged to submit their climate actions that contribute to lifestyles for the environment within their capacity, which are sustainable and scalable, and serve as good practices that can be shared globally.
What Has Been Said:
Shri Bhupender Yadav, Union Minister for Environment Forest and Climate Change said, “One of the key stakeholders are the youth of today. Developing an understanding of the LiFE among the younger generations is essential for fostering responsible consumption patterns and influencing the lifestyle choices of the generations to come to make them Pro-Planet-People.”
Shri Bhupender Yadav further said– “Across several regions in India, there are many examples where our youth have demonstrated a strong will to carry forward the centuries old traditions where their daily lifestyles have been respecting, preserving and nurturing environment.
A Future Vision:
- In Our LiFEtime campaign, is a great way to encourage youth to become the ambassadors of sustainable lifestyle practices and grow into leaders that lead the way in biodiversity conservation and natural resource management.
- The campaign will involve more youth in the conversation about climate change, adaptation and mitigation, and provide them a platform to share their concerns, issues and solutions with the leaders of the world.
- It will amplify the voices of the youth who are increasingly climate conscious and provide recognition to young climate champions.
###Govt of India to Abolish National Anti-profiteering Authority
The National Anti-Profiteering Authority (NAA) is poised to merge with the Competition Commission of India as the GST`s anti-profiteering watchdog (CCI).
Under CCI, the NAA`s investigation division will continue to operate in some capacity. The official claimed that because CCI can handle issues on its own, the change will result in fewer regulators. After NAA`s mandate is up, it is intended to transfer cases to CCI.
Why This Transfer:
NAA`s role is to make sure that the benefit of tax rate reduction reaches the consumer immediately. This has been the role of NAA primarily because the GST council has been rejigging the rates in the last five years. NAA has little to do when rates go up.
Authorities are still receiving several complaints about the early years of GST, saying that the benefit of the input tax credit has not been fully passed on to consumers. Sectors like eateries, cinemas, real estate, fast-moving consumer goods, etc., have faced NAA’s scrutiny the most. In many cases, the regulator ordered the business to return the allegedly overcharged amounts to the consumer.
About NAA:
The National Anti-profiteering Authority (NAA) was established under section 171 of the Central Goods and Services Tax Act, 2017. The NAA was set up to monitor and to oversee whether the reduction or benefit of input tax credit is reaching the recipient by way of appropriate reduction in prices.
National Anti-profiteering Authority (NAA) is therefore primarily constituted by the central government to analyse whether input tax credits availed by any registered person or the reduction in the tax is passed onto the consumer and he/she is protected from random price increase for self-interests in the name of GST.