Budget Reaction from Mr Tulsi Tanti, Chairman IWTMA (Indian Wind Turbine Manufacturers Association)
The Budget 2020 is pro-growth, gives impetus for consumption, creation of infrastructure and encourages investments into Indian economy. It provides a boost to propel domestic consumption through – a) Income Tax sops for nearly 30 million income taxpayers b) Improved financial health of 120 million marginal farmers. The special focus on agriculture sector with a 16-point plan is very encouraging. The budget also gave a boost to ‘Make In India’ by focusing on manufacturing and enhancing infrastructure and rural digital connectivity. It is aligned to the objective of overall economic growth, Nation building and job creation.
The Renewable Energy industry welcomes the government’s focus on clean energy being the major source of energy security for the country. The Finance Minister assertion to address Discoms is welcomed to tackle the financial stress in the system and help Renewable Energy sector. The infusion of INR 22,000 crore for the Renewable Energy sector is a major boost to grow the clean energy and help achieve the PM vision of 175GW by 2022. Also, we hope that with the capital infused in the banking sector and banks coming out of PCA will help in infusing more funds to renewable energy projects.