It has also reduced the corporate tax rate to 25 per cent for entities with turnover of up to Rs crore. Shina said the current growth has to continue for a few more years if the requirements ignited by the projected economic growth are to be met.
However, the enormous hydel potential of India remains untapped and a drastic policy reorientation was needed on this front, she said. The government has also allocated Rs 16, crore for the Sahaj Bijli Har Ghar Yojana Saubhagya to enable last mile connectivity for rural households. In terms of solar power, the levy of safeguard duty on imports of solar equipment, if implemented on immediate basis, is projected to cause significant financial distress in the sector.
Progressive amendments to the Electricity Act, steps to enforce renewable energy purchase obligation, policies to encourage solar, wind, small hydro and other renewable energy sources, and new hydrocarbon policy have benefited the private sector in the electricity industry.
Proactive steps in this direction, with sufficient funds to meet environmental reconstruction obligations, are expected in the Budget. January 30, Therefore, companies urge that this remain outside the purview of the Union Budget Another aspect we expect the budget to address would be the start-ups in the renewable energy sector, who are front runners in bringing disruptive ideas, technologies and innovations," said Dr Hitesh Doshi, Chairman and Managing Director, Waaree Group.
The Union Budget for is likely to have an overall positive impact on the power sector with the thrust towards expanding electricity access through flagship schemes is seen boosting demand and a proposed mechanism for uptake of solar power likely to spur capacity creation.
This will be the last full-fledged budget of the Narendra Modi-led government and the first post the rollout of the GST. The national hydel potential is estimated to be nearly 1,50, megawatts and only less than one third of it has been tapped so far.
Apart from this, here are some expectations from the sector: If the upcoming budget was to address the issue, it would be beneficial for the industry and provide the necessitated support for domestic manufacturers to grow. It would also play a major role in reduction of any trade balance gap that might exist between India and other countries.
Shina said the government could more or less achieve expected growth in the power sector in the current year. Arun Jaitley Budget In a statement on Sunday, Dr. The budget has proposed a mechanism to buy surplus solar energy from solar pumps by the discoms at reasonable price.
Sign up to receive our newsletter in your inbox every day! The national installed capacity has grown to 3,10, megawatts and energy target of 1, billion units is to be achieved soon, reducing energy shortage to a negligible 0. Tapping hydel power not only offers cheap energy during peak hours but also helps meet carbon credit obligations.
The non-utilisation of available capacity of certain power plants like the Kayamkulam NTPC, due to its high energy cost can be resolved through proper remix in energy allocation or through budgetary support from the likes of the National Investment and Infrastructure Fund, Dr.
However, the uncertainty over imposition of duties — import duty, safeguard duty and anti-dumping duty on solar -- including timelines and their quantum continues for the solar energy sector. A increase text size Outlook Web Bureau February 01, The government should allow enough time for the industry to plan and get prepared for such significant regulatory change and not levy this on immediate basis to avoid significant financial distress on under construction projects.
The industry was expecting the budget to provide clarity on the issue. The government has also allocated Rs 4, crore for capacity addition in wind power, solar power and green energy corridor project. Earmarking financial support in Budget for the solar manufacturing sector would be welcome, as it will help boost the manufacturing and value chain in the country, and in turn help with the energy security.Budget Positive impact on power sector, Saubhagya to boost demand The budget allocates Rs 3, crore for Deendayal Upadhayaya Gram Jyoti Yojna (DUGJY) and Rs 4, crores for Integrated Power Development Scheme (IPDS).
Budget Power Sector Hopes For Boost To Domestic Manufacturers. to invest more in R&D in these fields in Budget Higher efficiency and power in these vehicles will make it easy for.
Budget A Disappointing Budget for Solar and Renewable Energy Sector The new budget has failed to meet the expectations of the country’s renewable industry which was buoyant after recent supportive announcements made by the MNRE. Honorable Finance Minister Mr.
Arun Jaitely presented the Union Budget on 10th July, for the financial year FY The Finance Minister during his speech of the Union Budget has made some important announcements for the energy industry.
The proposed allocation is % of the total budget of the total budget of fiscal year The government has proposed allocating Tk24, crore for the power and energy sector in the upcoming fiscal year – Tk3, crore or 18% higher than the allotment given in the outgoing fiscal year.
POWERSECTORUPDATE 2 MARCH13 energetica india The article looks at the main points of Indian Budget w.r.t India’s Power Sector. We then take budget .Download