Hon’ble Prime Minister Shri Narendra Modi addressed the Webinar to detail a roadmap for effective implementation of the provisions related to Power and Renewable Energy Sector in the Union Budget 2021-22.
The panellists of the Webinar shared their insights and provided inputs related to putting in place the framework to give consumers alternatives to achieve from among more than one distribution companies.
The key announcements in the Union Budget related to Power and Renewable Energy Sector are as follows and we seek ideas and suggestions from the public and other stakeholders on the same:
a. The distribution companies across the country are monopolies either Government or private. There is a need to provide choice to consumers by promoting competition. A framework will be put in place to give consumers alternatives to choose from among more than one Distribution Company.
b. The viability of distribution companies is a serious concern. A revamped reform-based result-linked power distribution sector scheme will be launched with an outlay of Rs. 3,05,984 crores over 5 years. The scheme will provide assistance to DISCOMS for infrastructure creation, including pre-paid smart metering and feeder separation, up-gradation of systems, etc., tied to financial improvements.
c. For a USD 5 trillion economy, our manufacturing sector has to grow in double digits on a sustained basis. Our manufacturing companies need to become an integral part of global supply chains, possess core competence and cutting-edge technology. To achieve all of the above, PLI schemes to create manufacturing global champions for an AatmaNirbhar Bharat have been announced for 13 sectors. For this, the government has committed nearly 1.97 lakh crores, over 5 years starting FY 2021-22. This initiative will help bring scale and size in key sectors, create and nurture global champions and provide jobs to our youth.
d. Hon’ble Prime Minister, while speaking at the 3rd RE-Invest Conference in November 2020, had announced plans to launch a comprehensive National Hydrogen Energy Mission. It is now proposed to launch a Hydrogen Energy Mission in 2021-22 for generating hydrogen from green power sources.
e. To give a further boost to the non-conventional energy sector, I propose to provide an additional capital infusion of Rs.1,000 crores to Solar Energy Corporation of India and Rs. 1,500 crores to Indian Renewable Energy Development Agency.
f. In Part A, we have already acknowledged that solar energy has huge promise for India. To build up domestic capacity, we will notify a phased manufacturing plan for solar cells and solar panels. At present, to encourage domestic production, we are raising duty on solar invertors from 5% to 20%, and on solar lanterns from 5% to 15%.
The last date for submission is 31st March 2021
