KEY PROVISIONS FOR THE RENEWABLE ENERGY INDUSTRY IN UNION BUDGET 2017

Nothing exceptional was noticed in the budget this year with regards to the Renewable Energy sector. There was no change in the accelerated depreciation rate or the coal cess. Neither was there any change seen in the National Clean Energy Fund. This year’s budget proved to be quiet uneventful for the renewable energy sector. The only development that has been cited is that 7000 railway stations will be powered by solar energy. The allocation of budget to MNRE was 5,437 Cr which wasn’t a big change since last year’s budget of 5,000 Cr. Other than that, there weren’t any exceptional changes. An article in the Livemint also mentioned the following ” While total budgetary outlay to renewable energy marginally increased, there is little to celebrate. This budget is unlikely to catalyse action, attract private investment or underwrite risks. An opportunity was lost.”

 Key features of the budget can be found here

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