Budget 2016: Govt may announce incentives for solar projects in Budget

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NEW DELHI: The government is working out a package of incentives for solar power plants having generation capacity of 3,000 MW or more and an announcement pertaining to this is likely to be made in the forthcoming Budget on February 29. An inter-ministerial committee headed by the Department of Industrial Policy and Promotion (DIPP) Secretary would soon finalise the report and submit to the Prime Minister’s Office for necessary action, according to an official. According to the draft proposal, the committee has proposed both fiscal and non-fiscal incentives to push mega solar power projects in the country.It may include a complete eco-system for solar projects such as contours of power purchase agreement, grid connection, land to put solar panels and manufacturing of equipment.

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