The meeting was attended by Commerce and Industry Minister Nirmala Sitharaman, Power Minister Piyush Goyal and senior officials in the Department of Industrial Policy and Promotion (DIPP), sources added.
The industry has claimed that though the government has said GST would be applied to solar modules at a concessional rate of 5 percent, there is still no clarity on whether it will be extended to other equipment as well.
Power minister Piyush Goyal said the government has set a deadline of August 15, 2022 for electrification of all households in the country and May 2018 for the electrification of all villages.
Piyush Goyal said that although hybrid cars have cut down the fuel consumption a little bit, India will promote electric vehicles because it is the future.
More than 600 participants from public and private sector as well as civil society are expected to participate in the India forum that would be hosted along with industry body CII.
"Presently, 41 HEPs (above 25 MW), aggregating to 11,792.5 MW, are under construction in the country. All the above projects are running behind schedule," Power Minister Piyush Goyal said in a written reply to Rajya Sabha.
"Currently, NTPC has no proposal to acquire stressed power projects or enable their lenders to operate on contract basis," Power Minister Piyush Goyal said in a written reply to the Rajya Sabha.
"As of July 1, 2017, there are 14 under construction hydro power projects (above 25 mw), totalling 5,055 mw, which are stalled due to various reasons," Power Minister Piyush Goyal said in a reply to the Rajya Sabha.
"As on date, 29 mineral blocks with an estimated total value of resources of Rs 1,56,746 crore have been auctioned in Andhra Pradesh, Chhattisgarh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Odisha and Rajasthan," Mines Minister Piyush Goyal said in a written reply to the Rajya Sabha.
Minister of State for Coal Piyush Goyal in a written reply to Lok Sabha said 190.95 million tonnes (provisional) of coal valued at Rs 1,00,231.3 crore was imported in the last fiscal.
The new indirect tax regime will be implemented there in the next few days," he told PTI on the sidelines of a GST-related event here. J&K Finance Minister Haseeb Drabu had yesterday stated in New Delhi that the state is likely to clear the legislation on the indirect tax regime by July 6.
With the rollout of the goods and services tax just around the corner, CNBC-TV18's Shereen Bhan spoke with the Coal and Power Minister, Piyush Goyal to talk more about GST and its impacts on the energy sector.
State companies such as Coal India and NTPC Ltd, the country's biggest thermal power producer, are planning to aggressively spend on solar projects under Prime Minister Narendra Modi's personal push for renewable energy.
Government think tank Niti Aayog has suggested in its draft National Energy Policy to spin off Coal India's seven arms into independent firms and imbibe competition, saying the coal behemoth was supplying coal to consumers at higher price.
Goyal said the Modi government through its efforts and vision brought down the losses and now it targets to make profit in discoms by the next year.
The Goods and Services Tax (GST), which is set for July 1 kick-off, will usher in a new system under which there will be one tax on commodities and services across the country.
The minister stressed that the economies of scale like in the case of LED bulb distribution programme, would help the nation to adopt better technologies at competitive rates without any subsidy.
While the power sector has been battling debt, banks and government have been hard at work on a bailout mechanism. But with many challenges facing the sector, it may not work.
The power ministry, which is also working on reviving stalled hydro projects, already had extensive discussions with bankers and stakeholders. According to sources, the ministry has firmed up a policy for stalled hydro projects to revive 11,639 mw by dispensing Rs 16,709 crore till 2024-25.
Bad loans in the power sector continue to weigh on India's banks, and the government has been looking for ways to help ease the pain for companies struggling to service their debts.
Before the Indo-German Summit 2017 is inaugurated today, PM Narendra Modi and German Chancellor meet informally in Berlin to chat about global issues and trade relations with India.
Cut to 2017. Markets are booming on the back of a string of state election wins for (the business-friendly) Modi, continued good luck on global oil prices and a paucity of emerging market alternatives for investors. There continues to be a business-like air in Delhi’s stately halls of power; Modi has won a reputation as a workaholic obsessed with results; and there has been no talk of corruption on his watch. Tick the boxes that the smart money follows, and tick again.
Union Minister Piyush Goyal rejected Chidambaram's charge that he was being targeted for his columns critical of the government and claimed that the issue was why beneficiaries of the Foreign Investment Promotion Board (FIPB) gave "money to firms owned by his son".