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.
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. 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.
The government has also allocated Rs 16, crore for the Sahaj Bijli Har Ghar Yojana Saubhagya to enable last mile connectivity for rural households. 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. Arun Jaitley Budget The budget has proposed a mechanism to buy surplus solar energy from solar pumps by the discoms at reasonable price.
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.
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.
The government has also allocated Rs 4, crore for capacity addition in wind power, solar power and green energy corridor project. Tapping hydel power not only offers cheap energy during peak hours but also helps meet carbon credit obligations.
Apart from this, here are some expectations from the sector: Proactive steps in this direction, with sufficient funds to meet environmental reconstruction obligations, are expected in the Budget. January 30, However, the enormous hydel potential of India remains untapped and a drastic policy reorientation was needed on this front, she said.
A increase text size Outlook Web Bureau February 01, 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.
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.
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.
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. In a statement on Sunday, Dr.
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.
The industry was expecting the budget to provide clarity on the issue. It has also reduced the corporate tax rate to 25 per cent for entities with turnover of up to Rs crore. Therefore, companies urge that this remain outside the purview of the Union Budget 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.
Shina said the government could more or less achieve expected growth in the power sector in the current year. This will be the last full-fledged budget of the Narendra Modi-led government and the first post the rollout of the GST.
It would also play a major role in reduction of any trade balance gap that might exist between India and other countries.
Sign up to receive our newsletter in your inbox every day!Budget Power of five will light up energy sector The government of India claims it is serious about reducing greenhouse gas emissions by doubling levy on coal from Rs per tonne to Rs Image: Shekhar Ghosh via India Today.
State Budget of Haryana Sector wise Allocations about ` crore is planned to be spent in the years and • To assist the beleaguered Power Distribution Companies. 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.
Clearing of the new power tariff policy by the Union government and the proposed amendments to the Electricity Act has triggered big expectations in the power industry about the coming Union.
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 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.Download