How Adani’s alleged corruption could hurt India’s economy & middle class https://www.youtube.com/watch?v=ZNzB_HVcoww | LME EP 51
The News Minute H ow this impacts you and me
the US Securities and Exchange Commission or the SEC has said that the adani group has offered bribes to state governments to buy solar energy at inflated prices .
This ends up paying a higher power tariff. Because of all this the consumers pay higher electricity bills push up our household expenses and when factories face higher costs they simply shut down or pass on that expense to the customers.
On top of that state governments ,many of which are already financially strained end up absorbing these higher costs. These state resources which could have been used to build better infrastructure maybe better government schools or even better hospitals . Instead this gets spent on overpriced energy .
let me tell you how India's Air Pollution crisis especially in cities like Delhi and large part of North India is largely driven by Coal Fired power plants corruption in the energy sector slows down a shift to cleaner alternatives like solar and wind .
if Global Investors see India's Market as corrupt they could hold back from funding or investing our renewable energy projects
but this isn't the first time adani has faced accusations like this . take Tamil Nadu for example reports claim adani sold low grade coal at inflated prices almost $92 per ton instead of $28 and low grade Coal was passed off as higher grade, so this costs taxpayers more money
other allegations of corruption surrounding the adani group also has had a cascading effect on all our lives. The group was accused of share price inflation. If adani did inflate share prices, it doesn't just hurt investors , it also risks destabilizing Banks
How The Costs Of The Adani Bribery Scandal Will Be Borne By India’s Electricity Consumers & May Increase Power Cuts
M Rajshekhar https://article-14.com/post/how-the-costs-of-the-adani-bribery-scandal-will-be-borne-by-india-s-electricity-consumers-may-increase-power-cuts--6741c1d1d3a18
One striking aspect of the chargesheet is that two of these five states are run by opposition parties.
J&K was run by a lieutenant governor selected by the BJP when the contract with SECI was signed. In Odisha and Andhra Pradesh, CMs Naveen Patnaik and Jagan Mohan Reddy have been supporting the BJP anyway. Chhattisgarh, however, was run by CM Bhupesh Baghel of the Congress when the PPA was signed. Tamil Nadu, another building block of the INDIA alliance, continues to be headed by DMK chief M K Stalin.