orginal fuel pump,Thermo King fuel pump,the same with Carrier 30-01108-03 Chongqing Wishcarry Trade Co.,Ltd. , https://www.wishcarry-cooler.com
While the Indian industry has varied opinions on the Union Budget 2020, there is a general sense of optimism about the continued focus on transitioning to a renewable energy-driven economy. As part of its commitment under the Paris Agreement, India aims to generate 40% of its total energy from non-fossil sources by 2030. In 2019, the country had already achieved 17% of its energy needs from such sources, with an installed capacity of 35%. This shows progress and sets a solid foundation for future growth.
The budget also highlights a significant increase in funding for the Ministry of New and Renewable Energy (MNRE), with a 10.35% rise in allocation. This marks a consistent 10% annual increase over the past three years, starting from the 2017-2018 financial year. The sustained investment reflects the government's long-term vision for clean energy development.
Beyond the numbers, what stands out is the comprehensive strategy being adopted to promote renewables. Several key initiatives have been highlighted, each playing a crucial role in India’s sustainable development journey.
One such initiative is the **Kisan Urja Suraksha Evam Utthaan Mahaabhiyaan (KUSUM)**, launched in 2018. The scheme aims to install solar-powered irrigation pumps in rural areas where grid electricity is not yet available. Initially targeting 17.5 lakh pumps, it was later expanded to include another 10 lakh units in grid-connected regions. This not only promotes cleaner energy but also enhances farmers' income by allowing them to sell surplus power back to the grid. The recent budget has further increased the target to 35 lakh pumps, allocating 700 crores for expansion and 300 crores for using barren land for solar generation. The goal is to produce 4 GW of power through this initiative. If implemented effectively, this could reduce groundwater overuse and provide new revenue streams for rural communities.
India currently has around 3 crore diesel or electric irrigation pumps, which contribute significantly to fossil fuel imports and environmental degradation. Shifting to decentralized solar power offers a promising solution, aligning with both climate goals and economic benefits.
Another notable move is the push for **solar power generation by the railways**. The budget targets 18–20 GW of solar power, including rooftop installations at railway yards and along tracks. A pilot project in Bina, Madhya Pradesh, developed in collaboration with BHEL, is expected to be operational by March 2020. With a 1.7 MW capacity, it will supply 25 lakh units annually to the railway grid, reducing reliance on conventional energy sources.
To further encourage investment in the sector, the budget extended the **15% corporate tax rate** for new manufacturing units, including those in renewable energy. This provides a strong incentive for setting up green infrastructure.
Additionally, the **abolition of Dividend Distribution Tax (DDT)** on renewable energy investments is a major step forward. This change removes a key barrier to foreign investment, making the sector more attractive to global players.
Lastly, the introduction of **smart metering** aims to ease the financial burden on power distribution companies (DISCOMS). By enabling prepayment and dynamic tariff structures, smart meters give consumers more control and flexibility. However, the high cost—around 3,000 INR per meter—raises questions about funding and implementation, especially in rural areas.
Overall, the Union Budget 2020 signals a strong and forward-thinking approach to renewable energy. With these measures in place, India is well on its way to becoming a global leader in sustainable development. The sun is indeed shining brightly on the solar sector.