Union
Minister of State (IC) for Power, Coal, New & Renewable energy and Mines,
Shri Piyush Goyal while addressing the media here today, said that the
allocations have been increased for social sectors across the board including
affordable housing, Infrastructure, Rural Development.
Further, the
Minister added that the Budget 2017–18 promotes the ‘Make in India’ mission by correcting inverted duty
structure in many areas the budget and has provided impetus to transformative
changes happening in the Ministry of Power, Coal, New & renewable energy
and Mines. Micro, Small &
Medium Enterprises are back bone of the sector and have been made competitive with
reduction of Corporate Tax to 25% up
to turnover of Rs. 50 crores, he
added.
In the New
& Renewable Energy Sector, Shri Goyal informed that the Budget has affirmed
target for Solar Power of additional 20,000 MW capacity during next year. Further, the budget
has provided renewed thrust on renewables, with
·
Removal/ reduction of customs/ excise
duty on Solar tempered glass
·
Reduction of Customs duties on various raw
materials would further bring down the cost of clean energy
·
Railways to contribute to solar energy by
powering 7,000 stations through solar power
Regarding the
allocation for Ministry of Power, Shri Goyal said that it has been increased by
33% to Rs 13,881 crores, due to
major thrust on flagship rural electrification scheme Deen Dayal Upadhayaya
Gram Jyoti Yojana (DDUGJY). The allocation
for this scheme has been increased by 44% from Rs. 3,350 crores
to Rs 4,814 crores, while the contribution to urban areas
scheme Integrated Power Development Scheme (IPDS) has been increased
by 29% from Rs 4,524 crores to Rs
5,821 crores. The Budget document has confirmed that “We
are well on our way to achieving 100% village electrification by 1st May 2018”, Shri Goyal added.
In the Coal
and Mines sector, Shri Goyal said that the Budget lays special eMphasis on
conservation, safety and infrastructure in coal mines. A number of steps taken
are as follows:
·
Allocation for Ministry of Coal increased by 34% from Rs 556 crore to Rs 745 crore
·
Allocation for Ministry of Mines increased by 12% from Rs 1,083 crore to Rs 1,213 crore
·
Conservation, Safety and
Infrastructure Development in Coal Mines increased by 43% from Rs 350
crore to Rs 500 crore
·
To benefit domestic aluminium manufacturers,
export duty on other aluminium ores including laterite has been imposed at 15%.
·
Talking about
the huge boost provided in the Budget to domestic LED companies, Shri Goyal
counted a number of steps taken, which are:
·
Customs duties reduced for parts to promote
domestic value addition
·
The budget has provided for reduction in Basic
Customs Duty (BCD) from 10% to 5% for all parts
used to manufacture LED luminaries, drivers etc. Thereby promoting domestic value addition
·
On importing semi–finished inputs for LEDs that includes driver Assembly and other
such products, BCD of 5% is levied.
This will make the LED products of those manufacturers who assemble the LEDs in
India cheaper whereas those who are importing semi–finished products would witness increase in costs
·
Excise duties on all parts
used in the manufacture of LED lights or fixtures reduced to promote domestic
manufacturing
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RM/VM
