Solar power developers in the country have demanded that the government should hold back the imposition of basic customs duty (BCD) on solar equipment for the time being in the forthcoming
Budget. They fear that this could derail the Government’s ambitious target of having 175GW renewables by 2022, requiring an investment flow of Rs 1.75 lakh crore.
According to industry estimates, as much as Rs 1.75 lakh crore investment is required to bid out 35GW of renewable energy capacity in the country. About 50 GW of clean energy is under implementation, while India has already installed over 90GW renewables, including 37GW of solar and 38GW of wind energy. India has an ambitious target of having 175GW of renewable energy capacity by 2022, including 100GW of solar and 60GW of wind energy.
Finance Minister Nirmala Sitharaman would propose the General Budget on February 1.
Earlier in June last year, Power Minister RK Singh had clearly indicated about the Government’s intent to impose basic customs duty on solar equipment and also reiterated that again.
Talking to PTI, Director-General Solar Power Developers Association (SPDA) Shekhar Dutt said: “There is a need to postpone BCD on solar modules till domestic manufacturers mature.
