Friday, 05 Jul, 11.43 am News24

Government keen to bring solar energy revolution, says Power Minister RK Singh

New Delhi, July 5: Praising the Budget which was announced by Finance Minister Nirmala Sitharaman on Friday, Power Minister RK Singh said the central government is planning new schemes to help the financially weaker sections of the society.

"After the massive success of the Ujala and Saubhagya schemes which provided power to almost every household, the budget has now set a new mission," Singh told News24.

The new scheme, named 'Annadata Banega Urjadata', aims to enable farmers to produce electricity from solar energy.

"Every farmer who has barren land will be able to get a solar panel in his own farm or through a developer. The government will buy electricity from the farmer. This will also be done on fertile land and at least the farmers will be able to earn one lakh rupees per bigha," Singh said.

The minister also informed that the government intends to promote electric vehicles in order to reduce the dependency on fossil fuels.

With the government committed to bringing the electric vehicle (EV) revolution to India in the next few years, the industry expectations from the Union Budget 2019-20 was running high.Among the key demands were priority-lending by PSU banks for purchase of EVs and raising government subsidy to push sales.

In her budget speech, the Finance Minister gave a big push to electronic vehicles as a means to reduce carbon emissions and air pollution. Sitharaman said that the Modi government strives to encourage faster adoption of electronic vehicles.

There is a Rs 1.5 lakh income tax deduction on loans taken to buy e-vehicles has made provisions for further tax relief for Indian citizens. A tax deduction of Rs 1.5 lakh was announced in the Budget on loans taken to purchase electric vehicles.

To boost the use of electric vehicles, an additional income tax deduction of Rs 1.5 lakh on interest paid on loans taken to purchase EVs has been proposed.

Also, the government has asked the GST Council to reduce tax rate on EVs from 12 per cent to 5 per cent. Customs duty on certain parts of EVs has been reduced.

"In order to promote electric vehicles by the government, the power ministry will play its role and large scale charging points will be set for such vehicles," Singh said.

"In the coming days, discoms will now be able to put their losses in part on the consumer only. The limit for loss on consumer will remain 15 percent," he added.

News24 Bureau

Photo: Google Image

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