We welcome FM Arun Jaitley’s Union Budget 2015 as it is positive, growth oriented and puts forth realistic roadmap to attain sustainable economic growth.
The government’s thrust on renewable energy is clearly visible in the target of achieving 175 GW by 2022. India in the last 25 years India has done 34 GW and in the next 7 years we now have a target of 175 GW, comprising of 60GW wind energy which is an ambitious target for the industry and we welcome the move since it is in the right direction. The budget reiterates mission and vision of the government to achieve the following:
· Affordable sustainable energy for all
· Low carbon economy
· Achieve energy security
· Long term sustainable economy & sustainable jobs
The government’s commitment to green India manifests in some of the additional measures such as increasing the coal cess from Rs. 100 to Rs 200 thereby providing impetus to clean energy
Also read: Key to the Union Budget 2015
We appreciate the focus on providing impetus to the Make in India vision by giving clarity on taxes, definitive measures to ease of doing business in India and encouraging domestic and foreign direct investment. However, in our view to provide further stimulus for investment in captive renewable power by the manufacturing units, interest rebate should be given, which will also ensure success of Make In India. Further, innovative financing measures such as infrastructure bond, creation of mudra bank for MSME sector also augurs well for Make in India. So overall we see the budget has provided several initiatives to boost manufacturing in India.
We are confident that the renewable energy in India will take off from here and witness exponential growth in the next few years and will power a greener tomorrow.