On this Independence Day, from the ramparts of the Red Fort, Prime Minister Narendra Modi had announced the next generation of GST reforms. His vision was realized on the 3rd of this month, when the GST Council reduced tax rates in many sectors to ease the lives of citizens. Today, we take a look at renewable energy.

 

 

The rationalization of GST rates across the renewable energy value chain from 12 percent to 5 percent has brought down the cost of clean energy projects, making electricity more affordable and directly benefiting households. The move will also reduce the cost of the rooftop solar system, solar pumps and other equipment benefiting households, farmers, industries, and developers providing a boost to the country’s green energy transition. Talking to Akashvani News, Naveen Tripathi, a resident of Gorakhpur said that this step will ease the financial burden on common men and often boost the energy sector and nation’s economy.

 

 

The next generation GST reforms will give a strong push to the clean energy sector and help the country emerge as a global leader in renewable technologies, while also making green power more affordable for households.