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Home / Business / Post Budget Reaction for Energy Sector By Mr. ShekharSingal, Managing Director, Eastman Auto & Power Ltd.

Post Budget Reaction for Energy Sector By Mr. ShekharSingal, Managing Director, Eastman Auto & Power Ltd.

We welcome the budget! It is a people focus budget. When our honourable finance minister Arun Jaitley announced the series of measures in Budget 2018-19 to promote clean energy, access to power and energy security, we as a company are looking forward about its future scope.

EAPL would be supporting Mr Jaitley’s initiative of full electrification on providing electricity connection to nearly 4 crore poor householdsunder Sobhagya Yojana. Also, with the announcement of promoting electric vehicles, centre may lower GST and pass benefits to buyers, will give a major impetus to the shift to clean energy.

However, in the renewable energy sector there are number of policy decisions related to import duties and domestic manufacturing, which needed to be addressed to further boost the sector. Also, achieving the target of 175 GW of renewable energy capacity and generating it by 2022 requires a lot more to be done than simply increasing the budgetary allocation.

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