Union Budget 2013-14
I would say we are digging our own graves. Sad and Pathetic.
FINANCE MINISTER COMMENTS
* "Faced with a huge fiscal deficit, I have no choice but to rationalize expenditure. We took a dose of bitter medicine. It seems to be working."
Below are the Highlights of Union Budget 2013-14 which are to be considered in detail.
SUBSIDIES
* Petroleum subsidy seen at 650 billion rupees in 2013/14
* Revised petroleum subsidy for 2012/13 at 968.8 billion rupees
* Revised 2012/13 fertilizer subsidy at 659.7 billion rupees
POWER AND ENERGY SECTOR
* Zero customs duty for electrical plants and machinery
* Move to revenue-sharing from profit-sharing policy in oil and gas sector
* To equalize duties on steam and bituminous coal to 2 point customs duty and 2 point cvd (countervailing duty)
The fact is we will need more than $75 billion this year and next year to fund deficit. How did we got into this?
This is because of the WRONG SUBSIDY TARGETS we have been focusing on for all these years.
Is there a way out?
The right way to deal the current fiscal deficit is to Fund more on Clean energy, More subsidies on large renewable energy projects. Clean and renewable. A source of energy which never deplete. The major identified Renewable resources of energy are Solar, Wind, Wave and geothermal.
Below is the focus we had received towards clean energy for this budget:
* Finance Minister, P Chidambaram promised to incentivise waste-to-energy projects that would come up through public private partnership mode with city municipalities and are neutral to different technologies.
* A scheme for making of renewable energy cheaper by providing for low interest bearing funds has been announced.
* A 'generation-based incentive' for wind energy projects and provide "Rs 800 cores" to the Ministry of New and Renewable Energy has been propose to reintroduced.
While the Petroleum subsidy seen at "RS 65,000 cores" in 2013/14.
Is this the focus we have for larger renewable energy projects?
If proper resources are utilized for Harvesting just the Solar and wind energy ALONE, the country will be well out of energy crisis without depending on Petrol, Coal or any non-renewable source of energy.
According to an estimate, the railway sector’s demand for electricity will grow by seven percent annually and by 2020 it will have a projected energy demand of 37,500 kWh (million kilowatt hour).
What are we going to do? Burn more coal, buy more crude oil? Or work on renewable energy with which we can sustain the increasing energy demands.
Going back to the FINANCE MINISTER COMMENTS - this is not the way to rationalize expenditure.
1 more question. Whose idea was Free-WiFi in trains anyways? Well played. Hope the train TTE doesn't hold the password and we have to pay an extra buck for it.
References:
http://timesofindia.indiatimes.com/business/budget-2013/union-budget/Highlights-of-Union-Budget-2013-14/articleshow/18724197.cms
http://economictimes.indiatimes.com/news/news-by-industry/energy/power/budget-2013-waste-to-energy-to-get-a-boost-benefiting-companies-such-as-jindal-saw/articleshow/18730551.cms
http://post.jagran.com/Railways-power-consumption-increases-by-tenfold-in-last-four-decades-can-nation-afford-it-1341228359#sthash.MHb0EyH6.dpuf
I would say we are digging our own graves. Sad and Pathetic.
FINANCE MINISTER COMMENTS
* "Faced with a huge fiscal deficit, I have no choice but to rationalize expenditure. We took a dose of bitter medicine. It seems to be working."
Below are the Highlights of Union Budget 2013-14 which are to be considered in detail.
SUBSIDIES
* Petroleum subsidy seen at 650 billion rupees in 2013/14
* Revised petroleum subsidy for 2012/13 at 968.8 billion rupees
* Revised 2012/13 fertilizer subsidy at 659.7 billion rupees
POWER AND ENERGY SECTOR
* Zero customs duty for electrical plants and machinery
* Move to revenue-sharing from profit-sharing policy in oil and gas sector
* To equalize duties on steam and bituminous coal to 2 point customs duty and 2 point cvd (countervailing duty)
The fact is we will need more than $75 billion this year and next year to fund deficit. How did we got into this?
This is because of the WRONG SUBSIDY TARGETS we have been focusing on for all these years.
Is there a way out?
The right way to deal the current fiscal deficit is to Fund more on Clean energy, More subsidies on large renewable energy projects. Clean and renewable. A source of energy which never deplete. The major identified Renewable resources of energy are Solar, Wind, Wave and geothermal.
Below is the focus we had received towards clean energy for this budget:
* Finance Minister, P Chidambaram promised to incentivise waste-to-energy projects that would come up through public private partnership mode with city municipalities and are neutral to different technologies.
* A scheme for making of renewable energy cheaper by providing for low interest bearing funds has been announced.
* A 'generation-based incentive' for wind energy projects and provide "Rs 800 cores" to the Ministry of New and Renewable Energy has been propose to reintroduced.
While the Petroleum subsidy seen at "RS 65,000 cores" in 2013/14.
Is this the focus we have for larger renewable energy projects?
If proper resources are utilized for Harvesting just the Solar and wind energy ALONE, the country will be well out of energy crisis without depending on Petrol, Coal or any non-renewable source of energy.
According to an estimate, the railway sector’s demand for electricity will grow by seven percent annually and by 2020 it will have a projected energy demand of 37,500 kWh (million kilowatt hour).
What are we going to do? Burn more coal, buy more crude oil? Or work on renewable energy with which we can sustain the increasing energy demands.
Going back to the FINANCE MINISTER COMMENTS - this is not the way to rationalize expenditure.
1 more question. Whose idea was Free-WiFi in trains anyways? Well played. Hope the train TTE doesn't hold the password and we have to pay an extra buck for it.
References:
http://timesofindia.indiatimes.com/business/budget-2013/union-budget/Highlights-of-Union-Budget-2013-14/articleshow/18724197.cms
http://economictimes.indiatimes.com/news/news-by-industry/energy/power/budget-2013-waste-to-energy-to-get-a-boost-benefiting-companies-such-as-jindal-saw/articleshow/18730551.cms
http://post.jagran.com/Railways-power-consumption-increases-by-tenfold-in-last-four-decades-can-nation-afford-it-1341228359#sthash.MHb0EyH6.dpuf
No comments:
Post a Comment