BUDGET 2015-16; IMPLICATIONS FOR GREEN ENTITIES
1. INCREASED 'RE' TARGET
India's targetted capacity for renewable energy stands revised to a greater 1,75,000 MW by the year 2022. This revised target comprises of 1. 100,000 MW Solar; 2. 60,000 MW Wind; 3. 10,000 MW Biomass; and 4. 5000 MW Small Hydro.
2. REDUCTION IN BASIC CUSTOMS DUTY
(i) NIL duty for Evacuated Tubes with 3 (three) layers of solar selective coating for use in the manufacture of solar water heater and system;
(ii) 5% duty on Active Energy Controller (AEC) for use in the manufacture of Renewable Power System (RPS) Inverters subject to certification by Ministry of New And Renewable Energy ("MNRE").
3. REDUCTION IN EXCISE DUTY
(i) Solar water heater and system from 12% to Nil without CENVAT credit or 12.5% with CENVAT credit.
(ii) Round copper wire and tin alloys for use in the manufacture of Solar PV ribbon for manufacture of solar PV cells to Nil subject to certification by Department of Electronics and Information Technology (DeitY).
4. RURAL ELECTRIFICATION
Electrification, by the year 2020, of the remaining 20,000 villages in the country, including by off-grid solar power generation.