The Renewable energy industry seems upbeat after the Budget, here's why
Feb 29, 2016, 17:42 IST
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Mr Ratul Puri, Chairman of Hindustan Powerprojects - one of the first companies to set up solar projects in India - shared what he feels the Budget has in store for this key sector. Here's what he said:
- The government’s plan to meet the fiscal target is a welcome move as this will allow reduction in interest rates which will benefit all sectors of the economy.
- The focus on infrastructure spending through Deendayal Upadhayaya Gram Jyoti Yojna and the Integrated Power Development Schemes is clearly visible with a massive outlay of Rs 221,246 crore for 2016-17.
- The thrust on connecting the unconnected by May 1, 2018, augurs well for the Country and the sector along with the ‘ease of business’ will catch the attention of the investors for the sectors. This would be another significant goal post that government would have scaled, once UDAY is successfully implemented.
- The Government has also set itself a target that could be difficult to achieve – double farmers' income in the next five years and they should have also addressed the skilling issue that is likely to face in the near term with 10 million joining the employment market every year.