Very encouraging and attractive provisions for Non Convetional energy and Power Sector in the Union Budget – says NSEFI
Very encouraging and attractive provisions for Non Convetional energy and Power Sector in the Union Budget – says NSEFI :
“ There are very attractive provisions for non conventional energy and power sector in the Union Budget and the government deserves all kudos and compliments for the same.” said Pranav R Mehta Chairman of leading solar trade body NSEFI. Of particular interest are the following provisions :
– 3000 crores for solar(on grid and off grid) sector
– 920 crores for wind,
– 500 crores for Green energy corridor
– 1000 crores for power system development fund.
We are very happy to note The Finance minister’s statement that we will use mission mode of LED bulb approach to promulgate use of solar stoves and battery charging.
Electrical Vehicles Encouraged :
Another very important announcement in the Union Budget today is to encourage and promote the use of Electrical Vehicles. In order to promote and make electric vehicles more affordable Additional attractive provision of tax deduction upto 150,000 per year on loan interest for electric vehicles. This is a farsighted move especially for mitigating the effects of global warming and Climate Change as also to reduce the Air pollution badly affecting our cities.
Further, the budget encourages investment in sunrise and advanced technologies like Semi conductor fabrication, future ready Lithium storage batteries, solar electric charging infrastructure and solar PV Cells. The Budget has also said that the government is working to remove the barriers like Cross subsidy surcharge, undesirable duties on Open Access sales and captive power generation for industrial and bulk consumers. “ All in all We are very happy with the Finance Minister’s statement on working with the State Governments to remove barriers like cross subsidy surcharges, undesirable duties on open access sales or captive generation Besides these reforms, reforms in tariff policy. are also on the anvil. “ All in all non conventional energy and power sector the budget is really encouraging” said Mehta.
