New Delhi (NVI): In line with the Government’s larger focus on renewable energy, Finance Minister Nirmala Sitharaman today laid emphasis on the solar energy sector, in her Budget proposals.
The FM announced a customs duty hike on solar inverters and lanterns which would have an impact on the rooftop, ground-mounted projects and distributed renewable energy sector.
“To encourage solar manufacturers, we are raising duty on solar inverters from 5 per cent to 20 per cent and on solar lanterns from 5 per cent to 15 per cent,” she said.
The FM added that to build up domestic capacity, the government would notify a phased manufacturing plan for solar cells and solar panels.
Soon after the annoucements on solar and renewable energy in Budget 2021, National Solar Energy Federation of India (NSEFI), welcomed the move for the increase of duty on inverters.
-ARK
