Weekly Power Sector Round up: 1st February 2020

Rs. 22,000cr for power, renewable sector in FY 2020-21: Finance Minister

The Government presented its Budget for the year 2020-21 which allocated Rs. 22,000cr towards the Power and Renewable sector. Finance Minister Nirmala Sitharaman urged states to transition to prepaid smart meters and provide consumers a choice of service providers.

She mentioned the financial stress of DISCOMs but no new or revised scheme to address the issues was unveiled.

20% Customs duty on Solar cells and panels removed

The Government announced the removal of the 20% customs duty imposed on solar cells and panels effective immediately in its Budget presented for 2020-21.

This move is intended to help meet India’s ambitious Solar capacity target of 100GW by 2022.