My suggestions for the Union Budget 2017 – 18 for Renewable Energy Sector are as follows :
1. Increase the New and Renewable Energy – MNRE Budget to double the amount from the present level of around Rs. 9000 Crores to Rs. 18,000 Crores.
2. Accelerated Depreciation for Renewable Energy – especially Solar Energy should continue for a further period of at least 5 years, if national targets are to be achieved.
3. Interest Subvention of at least 6 % across the solar sector i.e. for Solar Manufacturing in India, Solar Developers, Solar Rooftop. For MSME Sector this interest subvention should be 2 % more that is @ 8 %
4. Indigenous Solar Manufacturing should be whole heartedly encouraged to make it Globally competitive and Global Players and JVs to be liberally encouraged to set up their manufacturing plants with the state of art technologies.
Pranav R. Mehta
Chairman,National Solar Energy Federation of India and
Co-Chairman, Global Solar Council