UPSC CDS GS Economy Questions Part 2

Both the statements with regard to the First Renewable EnergyGlobal Investors Meet and Expo (2015) are correct. As a follow-up to the ‘Make in India’ initiative launched by the Prime Minister, theMinistry of New and Renewable Energy (MNRE) had announcedorganisation of the First Renewable Energy Global Investors Meet & Expo (RE-INVEST) on 15th-17th February, 2015 in New Delhi. The central theme of the meet is to attract large-scale investments in the renewable energy sector in India. It was the first major platform for investment promotion in the renewable energy sector at the Government of India level to signal India’s commitment to the development and upscaling of renewable energy for meeting its energy requirement in a sustainable manner. Renewableenergy contributes about 6.5% in the electricity mix of the country. It is proposed that this would be taken to about 12% in the nextthree years. FDI up to 100% under the automatic route is permitted in the Renewable Energy Sector.