Home / Business and Economy / India eyes electric stoves amid gas crisis
India eyes electric stoves amid gas crisis
7 Apr
Summary
- India plans to boost electric cooking stove use significantly.
- Zero-interest loans may be offered via multilateral institutions.
- The National Efficient Cooking Programme will be revamped.
India is initiating a significant plan to promote electric cooking stoves in response to ongoing cooking gas shortages impacting households. These shortages are linked to the current West Asia war.
The strategy may involve collaborations with multilateral financial institutions to provide zero-interest loans. Energy Efficiency Services Ltd (EESL) is designated to manage these financial arrangements.
The EESL is expected to enhance and adapt the three-year-old National Efficient Cooking Programme (NECP). This initiative aims to address a surge in demand for electric cooking solutions.
A potential model under consideration includes a third party subsidizing interest on equated monthly instalments (EMIs). This would reduce the financial strain on economically vulnerable consumers. The current NECP lacks provisions for such interest subsidies.
