Budget Statement from Shakti Pumps (India) Limited

 Mr. Dinesh Patidar, Chairman & Managing Director, Shakti Pumps (India) Ltd

“The Budget presented by the Finance Minister Nirmala Sitharaman reaffirms the Government's support and commitment to achieve the Solar Energy Vision & Goals. The budget reaffirms government’s support and commitment for achieving the vision for solar energy goals. The outlay will boost significant investments and projects commenced under various schemes including the PLI projects by the manufacturing companies.

The government’s support in this regard additionally fulfils the dual objective of Atmanirbhar Bharat and Make-In-India.

In order to support domestic manufacturing of solar panels for meeting the target of 280 Giga-Watt of solar capacity by 2030, Rs. 19,500 crore for Production Linked Incentive (PLI) for high efficiency modules with priority to fully integrated manufacturing units will be made in 2022-23. In addition to this, the budget has kept provisions for the various CFA based programs such as for Solar On-grid program, for PM-Kusum Scheme and more; thus the total budget for solar energy based supportive program is Rs. 5206 Cr.”