Budget 2015: Hopeful of getting subsidies to support renewable tech, says Inder Jaisinghani of Polycab Wires

NEW DELHI: With the Union budget for 2015-16 round the corner, the power sector is ready with its wish-list, hoping for a favourable treatment from the new government.

To meet our growing needs country has invested heavily in both renewable as well as non renewable resources. But despite such major capacity additions there have been issues in various parts of the power sector value chain which has constrained the development of power sector, said Inder Jaisinghani, Chairman & Managing Director, Polycab Wires.

He further said that the key issues are lack of sufficient transmission & distribution capacities, under utilization of existing capacities and bolstering energy efficiency.

"Another area of concern is under utilization of existing capacities, currently, we only utilize 70% of the existing capacity to produce goods and services. Any growth in this, would increase the prospects of new projects and capital expenditure," he added.

Jaisinghani also said that, coupled with energy efficiency initiatives such as Domestic Efficient Lighting Program (DELP) and converting street lights to LEDs we can achieve the target of 24*7 power supply with increased penetration in rural electrification.

The PM has elevated expectations of a thoroughly reformist budget. The FM must not disappoint and the industry is hopeful that he will look to deliver a robust and holistic package of fiscal incentives, subsidies to support renewable and clean energy technology, he reitrated.