New Delhi, 23 September (IANS). Union New and Renewable Energy Minister Prahlad Joshi said that with GST reform, the renewable energy sector is expected to save Rs 1-1.5 trillion by 2030, which will help the country to intensify its journey to India by 2027.
While giving information in a media event on the social media platform X, Union Minister Joshi said that these revolutionary reforms are not only strengthening the government, but they are also expected to be a big savings by 2030.
The GST rate on solar and wind equipment has been reduced from 12 percent to 5 percent. These devices include solar cooker, biogas plant, solar energy -based equipment, solar power generator, windmills, wind operated electrical generators, vest to energy plant and devices, solar lanterns / solar lamps, Ocean Waves Energy devices and plant and photo voltage cells.
According to the Center, GST reform is an important step towards taking forward the climate goals of India by making renewable renewable energy, waste management, biodegradable products and green mobility more economical and accessible. Cost reductions will accelerate adopting pollution control solutions by encouraging domestic manufacturing and supporting sustainable industries.
India is fourth at the world level and third with solar power capacity with renewable energy installed capacity and wind energy. India’s progress in the renewable energy sector shows the country’s focused policies and strategic plans under the national leadership.
The contribution of renewable energy to India’s total installed power capacity 484.82 GW is now 50.07 percent, which has been achieved five years before the target of 2030.
Efforts are being made to reach the target of 500 GW non-Givash fuel power capacity by 2030 in the country. This commitment is being seen as an important step towards India’s clean energy change and its broad climate goals.
-IANS
SKT/