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November-December 2016



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  • Directorio de Eficiencia energética

Will India's Budget 2015 bring positive change for Power Sector?

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In the first budget from the present central government, the Indian power and renewable energy sector again saw the committment towards clean and green India:

 

1.    MNRE has set new targets for renewable energy capacity. The new target is 1,75,000 MW till 2022, comprising 100,000 MW Solar, 60,000 MW Wind, 10,000 MW Biomass and 5000 MW Small Hydro

2.    Excise duty cut on round copper wire and tin alloys for use in the manufacture of Solar PV ribbon (used in solar PV cells), subject to certification by the Department of Electronics and Information Technology

3.    Clean energy cess has been increased from Rs.100 to Rs.200 per tonne of coal, to finance clean environment initiatives

4.    An Expert Committee is proposed to be appointed to aid in the preparation of a pre-existing regulatory mechanism which will do away with the need for multiple prior permissions

5.    Scheme for faster adoption and manufacturing of Electric Vehicles has been launched with an initial outlay of 75 crores

6.  The customs and excise duty concessions available for manufacture of electrically operated and hybrid vehicles has been extended by one more year

7.    Proposal to setup 5 new Ultra Mega Power Projects (UMPP), each of 4000 MW, in the plug-and-play mode. All clearances would be in place before the project is awarded by an auction process

8.    Second unit of the Kudankulam Nuclear Power Station to be commissioned in 2015-16

9.    It has been proposed to allow the balance 50 per cent additional depreciation (which was not allowed to be claimed where assets were used for less than 180 days in the year of acquisition and installation) in the immediately succeeding financial year

10.  Administrative relief has been granted to the Mega and UMPPs by increasing the time period for submitting the bank guarantee while claiming excise and customs exemption

11.  Reduction in the corporate tax rate from 30 per cent to 25 per cent, which is to be implemented over the next four years

 

Policies & Regulations | News published on 03 / 03 / 2015 by Bharat Vasandani

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