Comments of Mr. A. K. Srivastava, Managing Director, Essar Power Limited on Union Budget 2004-05
July
08, 2004
It was expected that the Budget
would extend concessions/ benefits available to mega power
projects to the units upto 500 MW and also for the projects
to be developed in the State sector. However, the Budget
is silent on this matter. We expect that the Government
will care of this in the next Budget to presented in a
few months from now. There were also expectations that
the high customs duty on the power plant spares would be
brought down to the level of duty on import of capital
goods to reduce the cost of power plant maintenance. Budget
is silent on this aspect and hence disappointing.
CORPORATE