Web Exclusive | February 2013
Budget 2013-14 Reactions: P.P. Gupta, MD, Techno Electric & Engineering Co Ltd.
"Allocation of Rs.8 billion for the Ministry of New & Renewable Energy, restoration of GBI is a very good move for renewable energy industry. I welcome Finance Minister's move to provide low interest bearing funds from National Clean Energy Fund to IREDA for lending to viable renewable energy projects. This will help in lowering interest cost which will ultimately benefit the customer. The initiative on renewable energy will also lower the coal import bill which has been one of the main reasons for high Current Account Deficit as highlighted by Finance Minister."