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The Budget’s provisions regarding renewable energy are positive for the players in the sector.
Vikram Kailas, MD, Mytrah Energy (India) Ltd said “the Finance Minister has a huge dream of providing power to every household 24X7.
“It is good to note that he has allocated ₹500 crore for ultra power solar projects.
Addressing concerns of global warming, ₹1,000 crore has been allotted for a clean thermal energy scheme. The manufacturing industry of both wind and solar are encouraged by exempting excise duty.”
Deepak Puri, Chairman and Managing Director, Moser Baer India Limited, said the Budget seemed good for manufacturing and renewable sectors in general and solar PV manufacturing in specific. Doing away with inverted duty structure was noted as another positive aspect of the Budget.
This will drive competitiveness of local manufacturers in big way and bring down the cost of solar power in India.
Job creationBringing down duties on PV manufacturing equipment is another important step in the direction of bringing costs down to drive local manufacturing and job creation. Pradeep Kheruka, Member of Indian Solar Manufacturers’ Association (ISMA), said ISMA welcomed the forward-looking budget that recognises the existence of inverted duty structures being suffered by the solar manufacturing industry, which incentivises imports rather than domestic production.
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