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NSEFI Both Happy and Unhappy about Union Budget 2018

“We as NSEFI are both happy and unhappy about Union Budget 2018” said Pranav R Mehta,Chairman NSEFI whilst commenting on Union Budget 2018 announced by Finance Minister Arun Jaitley.

“We are happy because one of our main suggestion was for generating electricity using solar panels on farms and farmers supplying surplus electricity after that captive use to the grid wherever the grid is available. Where the grid is yet not available a cluster of farms can form a Mini Grid. This will not only benefit the farmers but the country as a whole by distributed solar generation and equitable growth. In this manner the Farmers will contribute their might to the cause of global warming and climate change” said Mehta

However, we as NSEFI are not very happy because many of our suggestions like electricity supply to be brought in the GST network , zero GST rate for Solar Generation, A comprehensive package for solar Manufacturing in India, Restoration of 80% accelerated Depreciation for industrial, commercial and social institutions categorical statement that Anti dumping Duty, Safeguard Duty – if imposed – not to be applicable to already bid out projects, Incentives for State of Art Battery manufacturing for storage,New schemes for technology upgradation and absence of any substantial measure worth mentioning for solar and Renewable Energy in the Union Budget 2018 are indeed, disappointments.

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