The Budget comes across as a pleasant surprise for environment enthusiasts. Pranab Mukherjee’s budget had ample space for promoting eco-friendly and alternative sources of energy sector. In his Budget speech the Finance Minister clearly mentioned an allocation of Rs. 1000 crore to the renewable energy sector and setting up 20000 MW of solar power by 2022. Not just this, the Finance Ministry plans to reduce custom duties and taxes to encourage more windmills and hydro-power units.
In India, a country where approximately 300 million people still do not have access to power, and suffers extensively from load shedding, this move seems to solve a lot of problems. The Budget has also upped the country’s investment in the power sector to Rs. 5310 crore almost double of last year.
In the wake of the current global focus on Climate change and the not-so-successful Copenhagen Summit that had leaders around the world trying to reach a consensus on global warming and decreasing carbon impact, it is clear that the ongoing environment debates have urged the Government to seriously look into matters of climate change and encourage renewable energy sectors. As it is, there is a lot of pressure on our existing infrastructure and our cities are struggling with rising pollution levels and chemical wastes. A step towards tapping the vast renewable energy resources and using them for the betterment and development of the country is indeed welcome.
If sectors like wind and solar power gain momentum in India, it would soon mean a good-bye to some major power issues that our country faces today specially in the rural sector.
India is a vast country with a huge population and reaching everybody effectively is not easy. Renewable sources of energy need initial investment but get long term returns if implemented successfully. It is hoped that India is able to solve its energy problems without increasing a carbon impact on the environment.
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