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Gujarat Borosil Glass Works

India: New Union Budget and Its Impact on Solar Heat Market and Industry

Submitted by Baerbel Epp on February 8, 2017
BorosilThe new Union Budget that Finance Minister Arun Jaitley presented on 1 February 2017 proved the country’s commitment to renewable energy deployment. The funds available to the Ministry of New & Renewable Energy (MNRE) will increase by 9 % from INR 50.36 billion (around EUR 720 million) in 2016-2017 to INR 54.73 billion (about EUR 782 million). There have also been new tax regulations on solar-tempered glass, and the minister announced the creation of a development fund for the dairy processing industry and infrastructure development. The photo shows the inside of the solar-tempered glass factory of Gujarat Borosil Glass Works.
Photo: Jaideep Malaviya
 

India: Tax Reform May Lead to System Price Increases

Submitted by Baerbel Epp on September 6, 2016
Gujarat Borosil Glass WorksIn India, there are multiple indirect taxes levied on most transactions. These taxes are divided into those collected by the federal government and the ones collected by state authorities. At the beginning of August, the Indian parliament passed the Goods and Services Tax (GST) Bill, which aims for a radical overhaul of the country’s tax system by merging federal, state and local taxes and turn India into a “single-tax” country. The GST is expected to improve the way business is conducted, make foreign investment more attractive and increase the gross domestic product by between 1.5 and 2 %. But the renewable energy industry may take a hit, according to statements from members of the Solar Thermal Federation of India (STFI). All tax incentives will end under the new GST regime, which is to be implemented by 1 April 2017.
Photo: Gujarat Borosil Glass Works
 

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