prabhat khabar epaper 19/10/2016

Prime Minister Narendra Modi’s government is planning a Rs 21,000 crore ($3.1 billion) package of state aid for India’s so lar panel manu facturing indust ry, according to two officials.

The so-called Prayas initiative, short for `Pradhan Mantri Yojana for Augmenting Solar Manufacturing’, is a central-government plan designed to lift India’s installed photovoltaic capacity as well as to create an export industry , according to two senior government officials with direct knowledge of the plan. They asked not to be identified because the policy isn’t yet public.

Modi wants to raise renewable capacity to 175 gigawatts by 2022 from 45 gigawatts at present. In addition to meeting its own energy targets, which Bloomberg New Energy Finance estimates may cost $200 billion, India wants to emulate industrial developments in neighbouring China, where solar manufacturers have created a worldleading export industry .

The Prayas programme, part of Modi’s `Make in India’ campaign. The policy , which is being developed by the ministry in charge of renewable energy and industrial policy , along with the Niti Aayog, will be presented to the finance ministry within a month before going to the cabinet for final approval, they said.

prabhat khabar epaper 19/10/2016 :