UNION budget 2018- RSA COMMENTS –
FinTech startups to bridge credit gap for MSMEs: the government will set up a group under Finance Ministry “to help devise institutional development measures” to help FinTech companies grow in India. Acknowledging the huge credit deficit of about USD 2 trillion for micro, small, and medium enterprises (MSMEs), Finance minister emphasized the importance of FinTech startups for easier access to working capital requirements. It will help lending, payment MSMEs with systems, retail banking, wealth management, and more. The government backing spells possible favorable weathers for online digital lending entities who lend small-size loans to the MSME sector without elaborate documentation or credit history. The government has also allotted Rs 3 Lakh Crore for lending in FY 19 under MUDRA Yojana for MSMEs to increase credit availability in the sector. It should facilitate loans for easy solar sector easily.
Customs Duties: Import of solar tempered glass for manufacture of solar cells exempted from customs duty. It will reduce cost of manufacturing and eventually cost of solar modules and solar power systems. Earlier it was 5%.
Solar Pumps: Many farmers are installing solar water pumps to irrigate their fields. Generation of solar electricity is harvesting of Sun by the farmers using their lands. Government will take necessary measures and encourage State Governments to put in place a mechanism that their surplus solar power is purchased by the distribution companies or licensees at reasonably remunerative rates. “Says Sunil Bansal, General Secretary, Rajasthan Solar Association (RSA)
“Smart Cities Mission: RSA welcomes Smart Cities Mission aims at building 100 Smart Cities with state-of-the-art amenities. 99 Cities have been selected with an outlay of Rs. 2.04 Lakh Crore. These Cities have started implementing various projects like Smart Command and Control Centre, Smart Roads, Solar Rooftops, Intelligent Transport Systems, Smart Parks. Requirement of Smart Grids will increase as these are essential to support seamless power infrastructure for different Smart City functions. There are good business opportunities to support railway electrification and modernization for which Government of India has announced CAPEX allocation of Rs 1.48 Lakh Crore. “, “Says Suman Kumar, President, Rajasthan Solar Association (RSA).
Sunil Bansal
General Secretary
99289-51705
Source: RSA
