As yet another annual budget is presented, its time for a review just like in the previous years (Read more). This time, reviewing the budget from the Indian clean-tech sector’s perspective including a discussion with an expert from top global tax and advisory firm.
Listen to the complete budget discussion on the Emerging Tech Podcast (below).
Key Highlights
- Renewable Energy budget outlay increased for wind 400 to 750Cr for 4GW target RE capacity expected to contribute to 17% of power generation in 2018-19
- Decreased outlay for solar 2661Cr to 2045 (10GW grid and 1GW rooftop target)
- Green Energy Corridor outlay increased from 500 to 600Cr
- Off grid solar budget increased from 700 to 849Cr
- DDUGJY outlay decreased from 4814 to 3800Cr although Saubhagya has a separate allocation of 3700Cr
- Integrated Power Development Scheme has an outlay reduction from 5821Cr to 4935Cr
- FAME has been allotted 260Cr (Subsidy for 1000 cars and charging infra)
- Smart Cities : Budget Increased from 9000Cr to 12169Cr
- Promotion of Manufacturing (though MSIPS and other schemes) increased from 745Cr to 864Cr
- Budget outlay increased for MNRE from 9466 to 10317Cr with MOP declining from 64318 to 53469Cr with major reduction for NTPC
- Electrification of railways: 4000kms targeted for commission in FY 18-19
- Customs duty reduction from 5% to 0% for solar glass
- Customs duty increase for Complete Knock Down (CKD) of automobile parts from 10% to 15%
- Customs duty on Lithium ion batteries for mobiles increased from 10 to 20%.
- Social welfare surcharge of 10% instead of existing 3% on imports.
