Arun Jaitley, finance minister of India, did not make any announcement for the rapidly growing wind energy segment of the country.
“We are not happy with the budget 2017 as there is nothing concrete on the renewable energy sector, considering it is one of the growing sectors in the country,” said Sarvesh Kumar, chairman, Indian Wind Turbine Manufacturers Association (IWTMA).
The India Government has completely overlooked the wind energy division. The wind power sector is in a developing phase and needs attention from the government as we are facing various issues.
The Government should have rationalized service tax and introduced some state level reforms and policies that could have helped wind energy companies us in their road plan for the goal of achieving 60GW by 2022.
The government announced a target of 20,000 MW of solar projects in phase 2. Government has committed to achieve 100 percent electrification of all villages by May 2018 which will further boost the power demand in the country and digitalization of the villages.
“Capital and development expenditure pegged at 1.31 lacs crore for railways in 2017-18 which will include feeding solar power to 7000 railway station in the medium term. Overall a very good budget for the solar industry,” said Manoj Kumar Upadhyay, founder and chairman of ACME Group.
Jaitley said 100 per cent electrification of villages will be achieved by May 1, 2018.
The government has allocated Rs 4,843 crore to electrify the rural areas under the Deendayal Upadhyaya Gram Jyoti Yojana in financial year 2017-18.
The Finance Minister also announced a 24 per cent hike for rural, agricultural and allied sectors as compared to last year, allocating Rs 1,87,223 crore for financial year 2017-18.
“The government will continue to work closely with the farmers and the people in the rural areas to improve their life and environment. This is a non-negotiable agenda for our government,” Jaitley said in Parliament.