Budget 2020 India expectations: The central government should focus on making captive renewable policy, provide exemptions from cross-subsidy and transmission charges, allocate funds for real estate to boost infrastructure sector, key infra players recommended in their pre-Budget suggestions. The suggestions were given in a meeting of infra players with Finance Minister Nirmala Sitharaman, officials of new and renewable, finance, environment and road transport ministries, as per a PTI report.
The infra players have suggested a host of proposals for Budget 2020. Here are the details.
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1. The infrastructure companies sought finance from the Centre for affordable housing and real estate sectors. They claimed that any funds allocated to these sectors in the upcoming Budget 2020 would spur the consumption of cement and steel.
2. In Budget 2020, the central government should release stuck up funds which were meant for infrastructure sectors to bring back ‘buoyancy’ in the economy, the infra players told FM Sitharaman.
3. Terming the cross-subsidy and transmission charges as deterrents, infra players said that these have been making renewable energy more expensive than thermal power. They suggested that in Budget 2020, the central government should provide exemptions so that cement and other core sectors can play a pivotal part in boosting renewable energy.
4. The infra players have recommended that in the upcoming Union Budget, the centre should bring in captive renewable energy policy.
5. The centre should also provide exemptions from cross-subsidy as well as transmission charges for clean energy units to be set up beyond factory boundaries.
6. The cement players have asserted that they can even set up 12GW to 15 GW of renewable energy projects provided there is a positive ambience in the country.
7. The infra players told FM Sitharaman that if the central government showed ‘positive’ intent in Budget 2020, infrastructure sectors can play a key role in dealing with municipal and plastic waste or biomass.
8. Infra players have also recommended that the centre must further fine-tune the Income Tax Act, duties and lending rates.
Source: Financial Express