Budget 2021: Developers urge Centre to hold back basic customs duty on solar equipment
Solar power developers fear that this could derail the government's ambitious target of having 175GW renewables by 2022, requiring an investment flow of Rs 1.75 lakh crore
PTI | January 24, 2021 | Updated 14:47 IST
Solar power developers in the country have demanded that the government should hold back the imposition of basic customs duty (BCD) on solar equipment for the time being in the forthcoming budget. They fear that this could derail the government's ambitious target of having 175GW renewables by 2022, requiring an investment flow of Rs 1.75 lakh crore.
According to industry estimates, as much as Rs 1.75 lakh crore investment is required to bid out 35GW of renewable energy capacity in the country. About 50 GW of clean energy is under implementation, while India has already installed over 90GW renewables, including 37GW of solar and 38GW of wind energy.