2016-03-04 / HFE

Analysis of Budget 2016 for Renewable Sector

In my view, this year #VikasKaBudget is focused on the progress of the rural sector. Transforming India with a PRO Rural and PRO poor agenda, with an allocation of Rs. 87,769 crores where 5,542 villages have already been electrified, many more than the last three years combined and with an aim to make 100% of the village electrified by May 2018. This will have a extremely positive impact on the demand for electricity.

By renaming Clean Energy cess to Clean Environment cess and with a 200% increase on Coal cess the exchequer will collect over Rs.15000 crore which should be used to encourage energy storage solutions.

On a macro level, I am especially appreciative of the Railway Budget. Under it, railway stations will now be equipped with solar power and will provide much-needed clean power. In my opinion IT is changing the face of traditional business, thanks to leaders like Suresh P Prabhu. I was happy to hear Mr. Prabhu talk about speedy implementation on freight corridors.

The union budget has also implemented major tax and other reforms for start-ups, which will encourage new entrepreneurs and exploit the potential in India’s youth. Overall, Budget 2016 looks promising and we hope that it will provide the desired impetus to the Indian economy and specially to the Renewable sector.

At a Special Programe conducted by NDTV India Post Budget 2016

Contributed by Rahul Munjal, Founder & MD, Hero Future Energies

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