Powering Growth: An Empirical Analysis of Power Sector of Punjab and Haryana

India, an emerging superpower, comprises approximately 145 crore population (17.8 percent of the world) and overtook China in April 2023. While India has become an economy of $3.89 trillion in Gross Domestic Product (GDP) in 2023, India needs to cater to the growing need of electricity and a sustainable environment for the nation. Without sustainability, growth is short-lived and has negative externalities. Energy availability and utilization are crucial to the evolution of humans. Energy has facilitated progress from the earliest days of fire and animal power, which enhanced life, to the modern era, when electricity and cleaner, sustainable fuels are used for a variety of uses. Energy is a basic necessity for everything from technology for communication and information and machinery in every sector of the nation to the basic services of cooking, cooling, heating, lighting, mobility, and appliance functioning. One of the biggest obstacles to enhancing human well-being globally is now thought to be the lack of availability of clean and dependable energy sources. Global action has been taken to minimize emissions in response to growing worries about the impact of greenhouse gases on the global climate.