Budget 2014 15 Energy sector Edelman

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  • Energy Union Budget 2014-15 has focused on policy and taxation reforms to provide impetus to strengthening of the economy with the energy sector a key component Renewable Energy Sector Ultra Mega Solar Power Projects in Rajasthan, Gujarat, Tamil Nadu, and Ladakh in J&K have been proposed and a sum of Rs. 500 crores has been allocated Rs. 400 crore has been set aside for solar power driven agricultural pump sets and water pumping stations for energising one lakh pumps Rs. 100 crore is set aside for the development of 1 MW Solar Parks on the banks of canals Announced accelerated implementation of the Green Energy Corridor Project Proposed expansion of clean energy cess to include financing and promoting clean environment initiatives and funding research in areas of clean energy Proposed to extend concessional basic customs duty of 5 per cent to machinery and equipment required for setting up of a project for solar energy production
  • Renewable Energy Sector To promote domestic manufacture of solar photovoltaic cells and modules exemption from basic customs duty to specified inputs for use in the manufacture of EVA sheets and back sheets and flat copper wire for the manufacture of PV ribbons. In addition, to the following have been made exempt from excise duty: o EVA sheets and solar back sheets and specified inputs used in their manufacture o solar tempered glass used in the manufacture of solar photovoltaic cells and modules o flat copper wire for the manufacture of PV ribbons for use in solar cells and modules o machinery and equipment required for setting up of a project for solar energy production o forged steel rings used in the manufacture of bearings of wind operated generators o machinery and equipment required for setting up of compressed biogas plants (Bio-CNG) Energy Union Budget 2014-15 has focused on policy and taxation reforms to provide impetus to strengthening of the economy with the energy sector a key component
  • Thermal Power Generation Rs. 100 crore has been allocated for preparatory work for a new scheme "Ultra- Modern Super Critical Coal Based Thermal Power Technology" Adequate quantity of coal will be provided to power plants which are already commissioned or would be commissioned by March 2015 An exercise to rationalise coal linkages which will optimise transport of coal and reduce cost of power is underway 10 year tax holiday extended to the undertakings which are to be commissioned by March 31 2017 Proposed rationalising duty structure on all non-agglomerated coal (anthracite coal, bituminous coal, coking coal, steam coal) at 2.5 per cent basic customs duty and 2 per cent CVD Energy Union Budget 2014-15 has focused on policy and taxation reforms to provide impetus to strengthening of the economy with the energy sector a key component
  • Energy Union Budget 2014-15 has focused on policy and taxation reforms to provide impetus to strengthening of the economy with the energy sector a key component Natural Gas Announced focus on accelerating production and exploitation of Coal Bed Methane (CBM) reserves Proposed to scale up usage of Piped Natural Gas (PNG) Proposed additional 15,000 km of gas pipelines using appropriate PPP models Facilitation Implementation of Indian Customs Single Window Project to facilitate import and export Proposed to set up an institution to provide support to mainstreaming PPPs called 3P India with a corpus of Rs. 500 crores, in order to develop more sophisticated models with quick redressal mechanism in PPP contracts
  • Energy Union Budget 2014-15 has focused on policy and taxation reforms to provide impetus to strengthening of the economy with the energy sector a key component Distribution Allocated Rs 500 crore for Deen Dayal Upadhyaya Gram Jyoti Yojana for feeder separation will be launched to augment power supply to the rural areas and for strengthening sub-transmission and distribution systems Allocated Rs 200 crores to strengthen power sector reforms in Delhi And Increased focus on manufacturing infrastructure (Export Promotion) Solution enabling the introduction of GST expected in the course of this year Proposed to set up of a high level committee to interact with trade and industry on a regular basis and ascertain areas where clarity in tax laws is required Proposed 16 new port projects to be awarded this year with a focus on port connectivity. Rs.11,635 crore will be allocated for the development of Outer Harbour Project in Tuticorin for phase I Proposed to develop SEZs in Kandla and JNPT. A comprehensive policy will be announced to promote Indian ship building industry in the financial year Proposed initiatives to encourage long term financing for infrastructure