3000 Indian villages to get electricity through renewable energy sources under the DDUJGY scheme: Piyush Goyal

Government is gearing up to electrify about 3000 villages through renewable energy sources. Minister of State (IC) for Power, Coal and New & Renewable Energy- Piyush Goyal said that out of un-electrified villages, about 3000 villages to be electrified through renewable energy sources under the DDUJGY scheme.

Union Finance Minister Arun Jaitley in his budget speech on Monday proposed to assist proliferation of start-ups through 100% deduction of taxes on profits for three out of five years. A patent regime 10% rate of tax on income from exploitation of patents to give fill up to entrepreneurs for adoption of new technologies in RE sector was also mentioned in the budget.

Addressing the journalists here in national capital Goyal said “solar pumps for irrigation and the pumps based on biomass likely to get the fill up in 28.5 lakh hectares which is to be brought under irrigation.”  He further added “solar lamp has been exempted from excise duty from 25% to NIL and Basic Custom duty on Industrial solar water heaters increased from 7.5% to 10%.”

Early this week government announced to set up 33 solar parks across the country to reduce the production cost of solar power.

Highlights of the Budget 2016-17 for Make in India in RE sector

• Basic Custom duty on Industrial solar water heaters increased from 7.5% to 10%.  Imports likely to become costlier and will provide boost to domestic manufacturers.
• Basic Duty Exemption on solar tempered glass/solar tempered glass withdrawn and 5% concessional imposed to boost domestic manufacturers.
• Solar lamp being exempted from excise duty from 25% to NIL. Solar lamps/lanterns will become cheaper and their demand likely to boost in rural areas.
• Promote entrepreneurs among SC/ST and women – 2.5 lakh entrepreneurs to be created.  Decentralized renewables likely to get boost as new entrepreneurs likely to enter in the sector.