We expect more focus on renewable energy in budget 2019-20: Anil Gupta

  • Industry News
  • Jun 29,19
Tax rebates, better rate of interests, etc will help India to achieve 175 GW capacity target in renewable energy by 2022, says Anil Gupta, CMD, KEI Industries Ltd
We expect more focus on renewable energy in budget 2019-20: Anil Gupta

New Delhi
 
With the government setting up a target of 175 GW capacity for renewable energy by 2022, the budget 2019-20 is expected to put more emphasis of green energy, according to Anil Gupta, Chairman cum Managing Director of KEI Industries Ltd – one of the leading wire and cable manufacturers in India. KEI Industries manufactures extra high voltage, high and low tension cables (EHV, HT & LT), control and instrumentation cables, house wires, power cables, stainless steel wires, and all electrical cables. 
 
Speaking about his budget 2019-20 expectations, Anil Gupta said, “The power sector has seen phenomenal growth achieving the electrification of almost 96 percent of households in the last 5 years. This large growth in the sector can be attributed to the infrastructure boom in India creating more avenues for companies like ours. However, what we expect from this budget is increased focus on renewable energy. With the roadmap to achieve 175 GW capacity in renewable energy by 2022 including 100 GW of solar power, small tax rebates, better rate of interests along with reduction in corporate tax rate by the government will help us achieve this target. In addition to this, increased investment in infrastructure projects in power transmission and distribution, railways, metro rail, highways will further boost the demand.”
 

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