Take On Union Budget 2019

Perspectives
Typography

Mr. Jaideep N. Malaviya, Secretary General – Solar Thermal Federation of India

A fixed target similar to 40 GW of solar rooftop for promoting solar agriculture pumps under the KUSUM scheme could had been advantageous in meeting the Solar Mission targets. Appropriate concessions would accelerate this market and help mitigate the import of fuel oil and reduce transmission losses. They can also be connected to grid and any excess energy can be fed back to the grid, which can become additional source of income for farmers.

Unless domestic manufacturing is not made attractive renewable energy will be last in the race for creating jobs. Higher anti-dumping duty, easy finance from lending institutions and tax rebates to individuals can boost demand hence facilitate domestic manufacturing.

In order to attract the solar roof-top markets a plan to remove cross subsidisation of electricity tariffs would have proven prudent.

Unfortunately the solar thermal is grossly ignored and it would be prodigious if aggressive demand is created for industrial process heat since it has the potential to reduce the fuel oil thus save on precious foreign exchange.

Mr. Vineet Mittal, Chairman, Avaada Group

The Union Budget 2019 has a strong focus on long term sustainable growth. An effort has been made to bridge the urban-rural divide. Fiscal prudence has been maintained by the government even though we are in lead-up to elections. Vision 2030 elaborates the government’s focus on key sectors, that should help India transform into a global power - physical infrastructure, clean & green India, rural industrialization are some of the key work areas. Boost to manufacturing sector, will help transform the ‘Make in India’ vision into a reality, leading to significant increase in job opportunities.

It is good to see government’s continuing push for renewables to become a major source of energy in India. This will help ensure India’s energy security as well as meet our climate change goals. Through continued support for renewables, EVs will benefit. India might set a precedent in EVs being powered predominantly by renewable energy, as compared to coal based thermal power.

I see a holistic and inclusive approach taken by the government.

 

Mr. Ratul Puri. Chairman, Hindustan Power Projects

 

A fiscally prudent budget targeted towards India’s long-term growth and development.

The 2019 interim budget is fiscally prudent and thankfully without any negative surprises. There is no doubt that the forward looking, progressive budget has India’s growth and development in mind. Since infrastructure is the primary growth driver in India’s path to global economic success, the 15 percent increase in the budgetary allocation for the sector is a welcome step towards national growth and development.

Even though major announcements were not made for the energy sector, we appreciate the government’s reinforced focus on renewables, particularly the solar sector. That the renewable energy sector is estimated to create 3 million new jobs by 2020, in the solar and wind energy space is a clear indication that the sector will lead to more opportunities both for the economy and citizens. Though the Rs 3,004.90 crore allocated for the development of solar power projects next financial year (2019-20) is only a 1 per cent increase over the likely expenditure of Rs 2,969 crore for solar projects this fiscal, it guarantees steady financial flow.

The concerns over the issue of rise in oil imports are definitely valid and we welcome the recommended actions towards cutting down the country’s crude oil import. Along with that, the vision of creating transport revolution through the use of electric vehicles and enhancing energy security through energy storage solutions, is definitely a positive step towards meeting India’s power sector needs.

It is important to note that the government is also confident of meeting its universal household electrification targets by March 2019. On the other hand, Ujjwala Yojana, which has already provided free LPG connections to 60 million rural beneficiaries, can be rightfully expected to reach 80 million households by 2020.

That being said, the highlights of the interim budget are definitely the PM Kisan Nidhi Yojana, the tax rebate and the pension scheme for the unorganized sector. While the kisan yojana will bring relief to the farmers of the country, the full tax rebate for individuals up to an annual income of 5L and the pension scheme targeted towards the unorganized sector can be expected to benefit the individuals and by extension the overall economy.

 

Mr. Sanjay Aggarwal, Managing Director, Fortum India

Today’s interim budget by the Hon Minister Piyush Goyal is indicative of the government’s vision of inclusive growth for India. Fortum India appreciates the government’s focus on clean and renewable energy sources. We especially applaud the steps taken in the past years by Government of India, for improving the investor’s sentiments and helping company like Fortum to bring investment in India and also to increase the usage of bio fuels, as that solves many critical issues, like saving foreign exchange, waste management and providing domestic & clean energy sources. As Fortum India, increases its presence in India in partnership to building and operating a bio-refinery with Numaligarh Refinery Limited (NRL) and Chempolis, we look to support the country in its path to sustainable development. Lastly, we wish to highlight the governments’ vision for 2030 paving a way for Electric Vehicles with renewables becoming a major source of energy supply. The aim to have 30% Electric vehicles in India will surely boost the economy and put us on the world map. Together with the government, we at Fortum, look forward to work collaboratively by contributing towards technology and provide smart solutions to support India in its journey and make it an energy reliant country.

Mr. Amarthaluru Subba Rao, Executive Director – Finance & Strategy, CLP India

As a longstanding and committed partner to India, CLP India agrees with the government’s vision of inclusive growth for the country as has been outlined by the Honorable Minister in the budget speech today. Energy is the backbone of a nation and its development directly impacts all other sectors as well as the quality of life of people. We appreciate all the steps taken in the past few years by the government to enhance and expedite the growth of the sector including the exponential growth in solar power sector which has also led to creation of jobs. As we move forward, we look forward to continued focus of all stakeholders in taking energy value chain to the next phase of development with focus on clean energy and energy innovation.

 

Mr. Rahul Walawalkar, President, India Energy Storage Alliance (IESA)

In line with the vision to make India pollution free, the Government of India has once again shown its commitment to encourage and implement electric vehicles and clean fuel energy. Announcements of tax rebates on the import of EV technology, including batteries and motors ranging from 10 to 25 percent, and incentives for local battery manufacturing will speed up the EV revolution. We are happy to see the continuing support of the GoI in realizing India’s EV dream. We urge the Government to take swift action in launching the National Energy Storage Mission in order to support the development of an R&D and manufacturing ecosystem for energy storage and EVs.

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