Mr. VP Mahendru, Chairman, EON Electric
There is need to promote LED lighting industry as it will go a long way to save power for the nation and reduce pollution as already committed by us at the concerned UN forums. From the industry point of view, there is a need to provide Income Tax benefits to LED manufacturing companies, Accelerated depreciation benefit to LED plants and push towards faster implementation of GST. The government should set up an interest refund rebate for manufacturers who have shifted to LED production. Further, Excise Duty exemption should be extended for LED lighting manufacturing companies present in special industrial promotion zones, like Haridwar because of the intensity with which the demand for LED Light is increasing.
Also, the budget should be able to create an enabling environment which can address the issue of skill gap, improve ease of doing business and accelerate digital deployment even for smaller towns and villages for better reach. Government spending for smart cities should be optimised to ensure faster adoption of smarter techniques for early development of new products required for the Smart Cities. Further, an LED substitution fund should be created for state governments and public sector to shift all conventional lights to LED lights within two years.
