Budget brings lower indirect levies for clean energy equipment


Budget brings lower indirect levies for clean energy equipment

Giving a boost to clean energy programme, Finance Minister Arun Jaitley today proposed massive cuts in excise and customs duties on materials used in solar and wind plants, and also announced the second phase of solar park development for 20 GW capacity.

“In solar energy, we now propose to take up the second phase of Solar Park development for additional 20,000 MW capacity,” Jaitley said while presenting the Budget for 2017-18 in the Lok Sabha today.

Besides, the minister also proposed to feed about 7,000 stations with solar power in the medium term saying that a beginning has already been made in 300 stations and works will be taken up for 2,000 railway stations as part of 1000 MW solar mission.

Commenting on the budget proposals about renewable energy, Power Minister Piyush Goyal told PTI that his ministry would soon start auction for another 20GW of solar parks in the country as announced in the Budget.

The Finance Minister has proposed zero basic customs duty (BCD) on solar tempered glass for use in manufacture of solar cells/panels/modules. At present BCD on those is 5 per cent.

Similarly, he proposed to reduce countervailing duty (CVD) on parts/raw materials for manufacture of solar tempered glass for use in solar photovoltaic cells/modules, solar power generating equipment or systems, flat plate solar collector, solar photovoltaic module and panel for water pumping and other applications, to 6 per cent from existing 12.5 per cent. Read more

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