According to clean energy consultancy Bridge to India, Renewable energy capacity addition progress in the second quarter (Q2) and third quarter (Q3) of financial year 2019-20 (FY20) would continue to be affected by the coronavirus disruption. It expected only 24 GW to be added in this period in view of the various operational and financing challenges. And revised renewable capacity estimate for March 2022 is 116 GW including rooftop solar and open access projects.
Union Minister Dharmendra Pradhan on Saturday said that a long term policy reform has been made in the Coal sector to ensure that coal is available at cheaper rates and there’s more production.
Speaking on the fourth tranche of ₹20 lakh crore stimulus package, Pradhan said, “A long term policy reform has been made in Coal sector to ensure that coal is available at cheaper rates and there’s more production. The private sector has been allowed to enter the coal sector. Both public and private sector will work towards the production of coal.”
The finance minister’s announcement on mining sector reforms is expected to foster a new ecosystem which would have a transformative impact on the growth of the economy, employment generation and equipment manufacturing under the ‘Make In India’ initiative, Ranjit Rath, Director General, Geological Survey of India (GSI) has said. The process of commercialization would increase competition and addition and adoption of state-of-art technologies would become the order of the day in the mining sector.
The government is likely to offer major rebates on revenue share to winners of commercial coal block auctions in order to attract investments from local and global miners. This follows the announcement by finance minister Nirmala Sitharaman on liberalising commercial coal mining as part of the Rs 20-lakh crore Atmanirbhar Bharat stimulus. Companies that start early production from the blocks will be offered 50% rebate on revenue share payable to the government. The rebate will start from the day of production till the scheduled commencement date of mining agreed at the time of awarding of the block, sources said.
The revised tariff policy has been cleared by a group of ministers and it is likely to be implemented within a month, Power Minister R K Singh said. The policy provides for steps like penalty for unscheduled power cuts by distribution companies.
Finance Minister Nirmala Sitharaman said structural reforms will be focus of the fourth tranche of economic stimulus package with an aim to boost growth and create jobs.In her fourth press conference, she said the focus of the fourth stimulus would be coal, minerals, defence production, civil aviation sector, power distribution companies in Union Territories, space sector and atomic energy sector.