PNC: Union Budget 2024-25�Salient points about Power Sector

All info in this PPT is collected from various open sources available on the internet & News papers. Opinions expressed/ remarks, are my own views, which are based on my LIMITED EXPOSURE. You may not agree with my opinion. I respect your views/ opinons

Compliled by:

Vijay L Sonavane

ME(Elect)

Date: 05/08/2024

Road map for pursuit of Vikasit Bharat: in Budget 2024-25 speech

• Focus on FOUR major Castes: POOR/FARMER/YOUTH/WOMEN
• Budget Theme: Employment/ Skilling/MSME/Middle class

Priorities for Vikasit Bharat:

• Productivity & resilinace in AG
• Employment & Skilling
• Inclusive Human Resource Development & Social Justice
• Manufacturing & Services
• Urban Development
• Enery Security
• Infrastructure
• Innovative Research & Development
• Next Generation Reforms; Rural & Urban land related Actions

Energy Security: Major issues

Initiatives for private sector in Nuclear Energy

• Setting up Bharat Small Reactors
• R&D of Bharat Small Modular Reactor & newer technologies for nuclear energy

Energy Audit

• Financial support for shifting of micro & small INDs to cleaner forms of energy
• Facilitate investment grade energy audit in 60 clusters, next phase expands to 100 clusters

Pumped Storage Policy

• For electricity Storage & facilitation of smooth integration of growing share of RE

Advance Ultra Super Critical (AUSC) Thermal Power Plants

1. JV between NTPC & BHEL will set up a full scale 800 MW commercial plant.

Availability, Accessibility & Affordability of Energy are key issues in Energy Transition

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Govt to open up NUC power sector for private investments

• Budget opened up NUC power sector for private investments to boost the share of Atomic Energy Production, as GOI aims to achieve net-zero carbon emissions by 2070.
• GOI will partner with private sector to set up Bharat Small Reactors & in the R&D of Small Modular Reactors. & development of newer technologies for NUC energy.
• Rs 1 Trillion R&D funding will be made available for NUC sector.
• Corpus will be formed, with provision of a 50-year interest-free loan, to help finance research in technology This will encourage private sector to scale up research & innovation significantly in sunrise domains,
• However for this, GOI will have to amend “Atomic Energy Act” to allow the entry of private Cos in nuclear power sector as the present law allows only Govt entities to handle NUC material & technologies.
• NUC energy is expected to form a very significant part of energy mix for a Viksit Bharat 2047 (developed India)

• India has an installed NUC power capacity of 7,480 MW, which is expected to increase to 22,480 MW by 2031.
• Allocation of Rs 24,968.98 CR for DAE has been made as against Rs 26,799.78 CR for FY 23-24
• Allocation to Bhartiya Nabhikiya Vidyut Nigam Ltd (BHAVINI) has increased from Rs 200 CR in previous FY to Rs 1,184 CR in budget
• BHAVINI is in final stages of commissioning Prototype Fast Breeder Reactor at Kalpakkam, which will kick start the 2nd stage of India's three-stage NUC power program. It started initial fuel loading in Prototype Fast Breeder Reactor in Mar 24 & its 'First Approach to Criticality' is expected to be achieved in the coming months.
• Dept of Atomic Energy (DAE) is "suitably designing" the 220 MW Pressurised Heavy Water Reactor (PHWR) as a Bharat Small Reactor (BSR) for Captive Nuclear power gen, using light water-based reactors by replacing Calandria with pressure vessel.
• Small Modular Reactors (SMRs) can be factory-built, unlike conventional NUC reactors that are built on-site. They have a power capacity of up to 300 MW/ unit. Being a mobile & agile technology, SMRs can be set up at locations unsuitable for larger plants

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• SMRs are seen to be making a significant & meaningful contribution to energy transition phase as part of efforts to deal with effects of climate change.
• ‘Bharat’ Small Modular Reactors (SMR) form the arm of diversified energy transition. While present day SMRs are projected to be economically viable & totally safe, there is not enough operational data to establish their bonafide conclusively. On the other hand, there are enough studies to show that like conventional NUC reactors, SMR too are susceptible to the usual problems: the risk of severe accidents & the production of radioactive waste .
• Nuclear energy is the cleanest & safest option. However, some Nations are reluctant to consider it, given that their public overestimates probabilities of rare events as humans are wont to.
• The price of energy transition will be too much for most Nations. It will only get worse. The scaling required for RE technologies faces several major challenges, including the large requirement for land. So, NUC option seeme to be convincing

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ENERGY AUDIT of MSME Clusters

• GOI to facilitate investment grade energy audit of traditional micro & small industries (MSME) in 60 clusters including Brass & Ceramic will be facilitated. Financial support will be provided for shifting them to cleaner forms of energy & implementation of energy efficiency measures .The scheme will be replicated in another 100 MSME clusters in next phase.
• MSMEs consume about 50% of the Nation's power needs & generate over 75% of emissions. While the budget has committed support to MSMEs to grow & compete globally, additional support is required for the greening of MSME sector, including easier access to climate financing. (to help MSME clusters shift to cleaner energy sources which will have a larger impact on Climate Action agenda)
• Special attention given to MSMEs & manufacturing includes a credit guarantee scheme, term loans for machinery, & technology financing packages. These measures will help MSMEs scale up & enhance competitiveness.

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Pumped Storage Project (PSP) Policy

• Introduction of Pumped storage policy: To enhance electricity storage & facilitate integration of RE.
• FM announced a new policy for PSP
• Keeping in mind the intermittent nature of RE, GOI is promoting “Pumped Storage Projects”.
• Pumped storage is a unique way to store excess electricity & is proposed to serve as a large scale energy storage faciity. This step will encourage Gencos & Discoms to opt for PSP in order to ensure continous power supplies & moderation of prices.
• Enhancing storage & integration of RE, PSP initiative is poised to provide a large scale solution for storage of excess electricity (RE), facilitating smoother integration of RES into India’s Enery mix

Advance Ultra Super Critical (AUSC) THM Power Plants

• A JV between NTPC & BHEL will be established to create an 800 MW commercial plant using Advanced Ultra Super Critical (AUSC) technology, to enhance the effciency of coal. GOI will provide necessary financial support for it
• Thus Budget enables to use its coal reserves responsibly, by providing fiscal support for Advanced Ultra Super Critical (AUSC) Thermal Power Plants.
• ASCU for THM Plants with much higher efficiency & reduced emission.
• GOI has also earmarked ₹21,400 CR for setting up several power projects including a new 2,400 MW plant at Pirpainti (Dist Bhagalpur, Bihar) (Advantage: Nitish Kumar, Bihar)
• As per REA, savings from ultra-supercritical or advanced ultra-supercritical plant designs compared to subcritical plants amount to 15-30%.”
• The fact that budget proposes setting up of 800 MW commercial plant based on AUSC technology shows that coal THM power plant are likely to be the mainstay of India’s electricity sector even in long term,

Continued reliance on abated fossil fuels (coal) should not turn in to a pretext of maintaing the status quo while postponing the real action to a distant future.

PM Surya Ghar Muft Bijali Yojana

• PM Surya Ghar Muft Bijli Yojana will provide 300 Units electricity Free to the 1 CR households. This scheme will get more focus from GOI to get it implemented. The scheme has received 1.28 crore registration & 14 lakhs applications within 3 months
• Resultant Annual saving of Rs 12,000 to Rs 18,000 /- for each H/H
• Incentive of 60% on 1-2 kW Systems & 40% on 2-3 kW Systems. The excess energy generated by the Household RT Solar will be purchased by Discom at Regulated tariff
• Budget allocation for PMSG-MBY for FY 24-25: Rs 6250 CR

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Focus on “Hard to Abate’ Industries

• A roadmap for moving the ‘Hard to Abate’ INDs from ‘Energy Efficiency’ targets to ‘emission reduction targets’ will be formulated. Appropriate Regulations for transition of these INDs from the current ‘Perform, Achieve and Trade’ (PAT) mode to ‘Indian carbon market’ mode will be put in place
• For Carbon Market” where Carbon Credits can be sold for negotiated prices.
• INDs such as Iron, Steel, Aluminium, Cement, Petrochemicals, Fertilizer
• This move will additionally create more demand for RE in the country.
• Budget provides financial support for shifting these Clusters to “Carbon Emission Reduction” mechanism.
• “India Carbon Market” aims to be among Top Three Global Carbon Markets by 2030.

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ENERGY SECURITY for AGRICULTURAL sector

• Budget has unveiled a roadmap towards a sustainable & resilient India, with AG & Energy security at its core.
• Following steps will be taken by GOI:
• Bringing 1 CR farmers under natural farming,
• Establishing 10,000 bio-input resource centers, and
• Support FPOs (follow-on public offer) for agri-product marketing
• These measures are set to significantly benefit BIOGAS sector.
• By promoting natural farming, there would be an increased demand for organic manure, a key by-product of Biogas production.
• The Bio input resource can serve as hubs for knowledge dissemination & adoption of Biogas technology. Moreover, the support to FPOs can facilitate the marketing of fermented organic manure as a value-added product

• Budget's focus on productivity, resilience in AG energy security, & innovation aligns well with Biogas sector's goals. These initiatives will catalyze the growth of Biogas industry, leading to:
• increased rural employment/reduced carbon emissions,/ improved soil health.

Flood management & prevention:

• FM said that assistance to Bihar, Assam will be given for innovative solutions for early detection of flood, using technologies & infrastructure development, thus saving lives & livelihood (Advantage:BIHAR??)
• For India's climate leadership, focus on three important pillars – climate-health climate-AG, & climate-WASH – needs significant support. A very explicitly laid out plan on Climate Action bodes well for India in harnessing opportunities in the areas of RE & AG. Production-linked incentive (PLI) interventions to promote the industry in RE will lead to much-needed corporate action.

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Infrastructure: Lever of growth & development

• Budget has provided for “Long term interest free loans” for an additional sum of Rs 1 Lakh CR for developments of local infra projects
• Keeping the criticisms aside, the flurry of reforms in the infrastructure sector ranging from construction of large scale road networks to exploring small NUC reactors has a clear proof that GOI is keen to use infrastructure as a catalyst of development..
• Let us hope that the Nation succeeds in building on the momentum & beckons with the intent & promise of a global superpower. However, the staus of new infra structure built (Roads/Highways/bridges /buildings) presently situation is really pathetic. (poor quality work ??)
• Further, Govt is set to initiate auction of initial series of offshore mining blocks, enhancing prior exploration efforts. This aligns with GOI’s strategic focus on sustaining robust, resource-efficient economic growth & ensuring energy security thro’ availability, accessibility, & affordability.
• GOI’s Critical Minerals Mission: Recycling & Import of Lithium, Cobalt, Copper Minerals for Clean energy gen & Pollution reduction.

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Removal of Basic Custom Duty on Critical Minarals

• For boosting RE sector, GOI announced removal of “Basic Custom Duty” (BCD) on 25 Critical Minerals like Lithium & Cobalt, which previously stood at 5% & there will be a reduction in BCD in two minirals
• (Majority of these are presently being imported from China: Chinese may business to flourish)
• Minerals such as Lithium, Copper, Cobalt & rare Earth elements are critical for sectors like NUC energy, RE, Space, Defence, Telecommunications, & High-tech Electronics.
• This cut is poised to reduce the production costs for Battery Energy Storage Systems (BESS), a move that complements Viability Gap Funding (VGF) of ₹96 CR for BESS. This funding is expected to aid the addition of 1 GW to India’s battery storage capacity, aiming for a substantial increase to 27-29 GW by 2030
• Energy transition is critical in the fight against climate change, & hence it is necessary to expand the list of exempted capital goods for use in manufacture of Solar cells & panels
• Impact: For large-scale manufacturing Solar projects, sourcing capital equipment will lead to 3-5% reduction in overall capital expenditure, potentially resulting in savings of DOM OEMs compared to their global counterparts.
• However, in view of sufficient DOM manufacturing capacity of solar glass & tinned copper interconnect, the Budget 2024-25 proposed not to extend (to REMOVE) the exemption of custom duties provided to them.

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• The proposal has received a mixed response from IND
• While on one hand it is said to boost Dom manufacturing landscape but on the other hand IND players feel that it is crucial to reduce dependence on other countries for components.
• Despite this DOM OEM modules were expected to remain costlier with prices anticipated to be 5 to 7% higher compared to previous 10% margins seen in large-scale manufacturing with respect to imported ones.
• On cost of solar glass: it varies between $3-$10 per Sq met based on quality & contributes 5-10% to overall cost of solar module manufacturing
• Reduction in BCD will have a minor impact, lowering overall cost of solar by about 0.5 to 1% on a watts-peak basis. While BCD has been increased on Solar glass, sufficient Dom manufacturing capacity will not result in an adverse impact.
• In FY24, India’s solar panel imports surged by 361% to Rs 4.3 Bn. Therefore, Budget 2024-25 should emphasise on indigenous development, technology transfer, & local manufacturing of solar components to conserve foreign exchange
• These two budget proposals underscore the importance of building DOM capacities to increase solar deployment. Currently, we import over 80% of our solar glass requirements
• To achieve true self-reliance, this must change.

Indian Auto IND

• Auto PLI outlay at Rs 3,500 CR in FY25 is nearly a 6 times increase over the Rs 604 CR, allocated in FY 24.
• Auto PLI is key instrument to bridge gaps in e-mobility value chain in & will drive investments in EVs & EV components as well as make EVs more affordable for customers.
• Exemption of customs duty on imports of Lithium, Cobalt, & other rare minerals, and extension of concessional customs duty on Li-Ion cells until March 2026,
• will support in increasing accessibility of EVs &
• is likely to lower the battery production cost & help in making EVs affordable for the buyers

14% rise in Capital investment for 8 power PSUs in FY25

In the Budget, nearly 14% rise in capital investment of Rs 67,286.01 CR is proposed for eight state-owned power Cos (PSU) for FY25, compared to Rs 59,119.55 CR for 2023-24

• Power Grid Corporation: Rs 12,250 CR for FY 24-25 (Rs 8,800 CR for 23-24)
• SJVN Ltd: Rs 12,000 CR for FY 24-25 (Rs 10,000 CR for 23-24)
• NHPC Ltd: Rs 11,761.87 CR in 24-25, (Rs 9,006.31 CR for 23-24)
• NTPC Ltd: Rs 22,700 CR for FY 24-25. (Rs 22,454 CR for 23-24)
• Damodar Valley Corporation: Rs 3,262 CR for 24-25, (Rs 2,708 CR for 23-24)
• North Eastern Electric Power Corporation: Rs 1,841.18 CR for FY 24-25 (Rs 1,150.02 CR for 23-24).
• Tehri Hydro Development Corporation: Rs 3,440.96 CR for FY 24-25, (Rs 4,877.22 CR for 23-24)
• Power System Operation Corporation Ltd: Rs 30 CR.(Rs 124 CR for 23-24)

TTL Budget of MOP: Rs 20,502 CR for 2024-25 (Rs 17,635 CR for FY 23-24)

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GOI will issue Policy documents on follwing issues

• Document on appropriate energy transition pathways that balances the imperatives of employment, growth & ENV sustainability by encouragement to gen of Solar, Wind & NUC energy & increase in their usage
• Infact, It is high time that we have a roadmap which provides clarity on these crucial aspects
• Roadmap for moving the hard-to-abate INDs from Energy Efficiency targets to Emission Reduction Targets.
• Appropriate Regulations for transition of these IND from current PAT mode to Indian Carbon Market mode will be put in place.
• Policy Measurers that would help “Access easy credit” & Raise capital at “Preferential rates” for Green Projects

• GOI will launch the auction of the first tranche of offshore minerals blocks for mining, building on the exploration already carried out sites
• GOI will issue Policies for:
• Advanced Ultra-Super Critical Technology (ASCU) for THM Gen Plants with much higher efficiency
• Modern Technology for Atomic Energy. Emphasis on Nuclear power gen Private sector allowed to enter Production of Smaller Nuclear Reactors. Govt to provide assistance to Private sector for this
• Emphasis on Increased Clean energy usage by conventional businesses.
• GOI will be Inviting 50 GW of RE Tenders Annually.

Proposed Revision of Taxex/duties

• Additional Income Tax Benefit to for Purchase of Battery operated EVs
• FAME incentive is only available to Taxies & Fleet drivers

Customs duty / Excise Duty Reduction / Tax Reduction

• Expanded list of Exempted Capital Goods for manufacture of Solar Cells & Panels (Solar Panels to be omitted from Capital Goods)
• Customs Duty exemption for Electricity supply from SEZs extended till Mar 2026
• Removal of Custom Duty on 25 Critical Minerals: Antimony, Beryllium, Bismuth, Cobalt, Copper, Gallium, germanium, Hafnium, Indium, Lithium, Molybdenum, Niobium, Nickel, Potash, REE, Rhenium, Strontium, Tantalum, Tellurium, Tungsten, Vanadium, Zirconium, Selenium, Cadmium, Silicon, SiO2
• Direct Benefit Transfer (DBT) for LPG: Rs 1,500 CR (Rs 180 CR in FY 2023-24)

Increase in Taxes / Duties

• Imposition of 10% Customs Duty on Solar Glass for manufacture of Solar Cells or Modules

Goods Likely to be Cheaper due to Tax benefit:

• Solar Panels/ Solar Modules/ Electric vehicles/ Lithium Batteries

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Energy Budget: What the industry has to say?

On BCD exemption for solar products:

• Expanding the list of exempted capital goods for solar energy projects is crucial for accelerating the energy transition.
• Additionally, investments in NUC R&D along with climate finance for hard-to-abate industries, bolster this well-rounded strategy

Critical minerals

• Establishing a critical mineral mission for DOM exploration marks a highly posetive step forward.
• While capacity building & technological advancements are crucial areas of focus the potential outcomes of partnerships with countries like Australia & Mineral Security Partnership (MSP) regime add an exciting dimension. This initiative promises to bolster India's strategic mineral reserves & drive innovation in the sector.

Energy transition & climate change:

• Net-zero emission target by 2070 will require a speedier evolution of India‘s ‘Panchamitra’ goals at Govt, Sector, & Industry levels. To do this, will require institutional mechanisms with regulatory powers at state levels, financing mechanisms, & capacity building. Without these formal structures, net Zero will only remain a Hope.

Advancing Energy Transition, Net Zero-2070, & Inclusive Manufacturing for a Vikshit Bharat

• Changes in import exemptions/customs duty to ensure that India has a vibrant has ensured that there is clear progression towards RTC integration of RE (& resultant increase in PLFs) thro’, robust grid scale Energy Storage.
• Marching towards Net Zero-2070: GoI has made it abundantly evident that all hard-to- abate sectors will require to get emission targets, reiterating GOI’s intention to build a strong Carbon Market. With the proposed Indian Carbon Market, the current Perform, Achieve, and Trade (PAT) scheme will be replaced. This positive step will help India to establish a fair carbon pricing & begin a positive investment cycle in appropriate decarbonization technologies.
• Inclusive Manufacturing Transformation: GOI’s focus is on ensuring that MSMEs (which constitute about 36% of manufacturing output) also evolve & develop in line with large enterprises, is also commendable. The budget outlines a following slew of measures to this effect:
• credit guarantee for equipment purchase/ streamlining credit assessment/ support mechanisms during periods of stress/ streamlining working capital issues

Winners & losers from Union Budget FY 24-25

Winners:

BJP Allies from NDA:

• AP & Bihar: States that are governed by parties allied with BJP, were in focus in the budget. GOI has allocated Rs 150 Bn financial aid via multilateral agencies to AP & strong support for Bihar will be expedited. It pledged constructing Highway roads, airports, medical colleges, & improving tourism spots in Bihar.
• References of Bihar/AP was made many a times in the Budget speech. Unfortunately No mention of Maha in the Speech. No special scheme for Maha/Mumbai
• Shares of companies based in AP, such as Power Mech Projects Ltd & KNR Constructions Ltd, gained in their Share Prices after the announcement.

Start-ups:

• India’s Start-up sector will benefit after GOI abolished “Angel Tax” which is levied on funds raised by start-ups on a valuation above fare market value

Middle-Class:

• GOI proposed increasing the standard deduction for income tax to Rs 75,000 from Rs 50,000. It also changed tax slabs & has proposed a very marginal relief in IT to midle class IT payers

Local manufacturing:

• GOI has proposed special focus on Labor-Intensive manufacturing in the budget. It has pledged to introduce credit guarantee schemes for micro, small, & medium-sized firms.

Jewellery:

• GOI has proposed to lower custom duties on precious metals like Gold & Silver, with the duty for gold cut to 6%. Firms like Titan, and Kalyan Jewellers rallied after the announcement. (will benefit the RICH class. Major IND in GUJ )

Youth:

• GOI’s new policies announced in the budget focused on India’s youth, with policies including plans to give one month of wage to all new entrants to the job market. It also announced several skilling programs, as well as an apprenticeship program to top 500 Corporates for young Indians.

LOOSRS:

Equity markets

• GOI has proposed to hike long-term capital gains tax to 12.5% from 10%, while short term capital gains tax hiked to 20% from 15%. It also doubled security transaction tax on futures & options trading to 0.02% from 0.01%

Electric Vehicles:

• GOI did not annunce any new policies to boost manufacturing of EVs in India.

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The habit of running after the shiny new toy in the market, for instance from CNG to LNG & now LNG to green H2, is proving to be GOI’s Achilles’ heel (a fault or weakness that could cause something to fail) It is pivotal to mark our own Dhruv tara and stick to the same

There are some aspects of energy transition which the budget has omitted & the Govt needs to focus on

• In the case of NUC energy, one also has to take care of proper management & of waste that would be discharged from NUC power reactors.
• Despite the strides in Biomass energy, Budget made no announcements for Biofuels sector, & demand for creating biomass storage banks was also not addressed
• In line with solar & NUC initiatives, there were anticipations of budgetary allocations in the Wind & Green H2 sectors along with additions of new capacities. Unfortunately there were no announcements about strengthening the wind, biomass or green H2 ecosystems in India.
• Even with incentives for Solar energy & RT installations, Budget should have clarified that H/H will have to pay a minimum of Rs 20,000 with the additional payments for the net power supplied & consumed via Grid
• Importantly, there have been major technical glitches with the National Portal in past that resulted in significant delays in RT installations & huge financial losses for Solar Energy sector. Budget made no mention of these malfunctions nor did it give any assurance for a smoother functioning in future

Notable Omissions from Budget:

• No Budgetary allocations for Wind & Green H2 Sectors
• No Announcement for Biofuels sector. Demand for creating Biomass Storage Banks not addressed

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Major Misses

• As India plans to have 50% of IC from RE by 2030, RE sector was envisaging a more concentrated package of incentives. Budget is ominously silent on extension of Inter State Transmission System Charges (ISTS) waiver for transmitting RE from one State to other, which expires in June 2025 & there was no relief in tariff charges to boost the growth of RE sector.
• Budget also did not ruminate on the plight of DISCOMS under any long term solution to cleaning up finances of ailing DISCOMS which is urgently needed to secure the backbone of Power Dist
• Additionally, IND experts in Biogas sector are also disappointed as budget failed to live up to the momentum built for the Biogas sector
• The Biogas IND was expecting a dedicated financing & research package for expansion of the sector, similar to the current SIGHT scheme for green H2, however their demands seemed to have fallen of deaf ears.

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Budget missed opportunity: Green H2:

• Budget 2024 has has left the stakeholders wishing for more robust support for green H2. While the budget continues the commitment to sustainable energy, experts believe there’s a room for further measures to fully harness the Green H2 sector’s potential & drive its growth in a competitive global market.
• GOI missed an opportunity to address key challenges facing the IND, including offtake concerns, evolving standards, & need for H2 storage & transportation infrastructure. Budget should have included a clear roadmap or indications of support measures.
• Though GOI’s fiscal support under NGHM for green H2 & its derivatives are creating an initial ecosystem for establishing the market there is a necessity to provide additional support to include tax holiday or concessional corporate tax, additional fiscal support for production of green H2, & electrolyzer manufacturing which would increase India’s competitiveness in global platform & counter the green subsidies offered by global counterparts, said the expert.
• The Budget speech could have provided valuable clarity by outlining specific initiatives & specific allocation.

Budget speech: Progress & stautus of following ambitious scheme swhich were introduced earlier : Not covered

• Smart city Program: Target & acheivement (Not in Rs Spent but quality of work carried out, reasons of failure, if any)
• Feeder Solarization program under PM Kusum: Why slow speed? Are there any field difficulties
• Earlier RT Solar program: Target & acheivement. Why not reached. GOI had tageted 40 GW of RT Solar by 2022. The present acheivement is only 11 GW as on June 2024.
• Progress of RDSS: Comparision of Target/ achievements
• Green H2 is produced using RE. But Green H2 sector also inherits all the limitations of RE sector, including the issue of intermittency & huge requirement of land grid integration, backup power gen, storage, etc for Wind & Solar Gen. In fact each widespread transition from one dominant fuel to another has taken 50 to 60 years. Are we making undue haste & expecting too much?
• On a lighter vein, Budget will also make life easier for those “think tanks, experts, & policy wonks who appear to be suitably concerned with ready-made topic” of climate change & energy transion, without considering the on-ground relaities.

In stead of introducing populistic NEW schemes, it is necessary for GOI to take on the all round reviwe & see whther targets fixed were achieved & if not, why not so. We need to have strict montoring system as well as a Very Strict Penalty system if Poor quality work is executed. Effort needs to made to reduce all types of CORRUPTION for faliure.

Thanks !!�Contact me: vlsonavanw@gmail.com /M: 98333 62062)