Budget 2020 News: Rs 22,000 cr outlay for power, renewable energy sector in FY21: FM

The Centre has proposed an outlay of Rs 22,000 crore for power and renewable energy sector for 2020-21, Finance Minister Nirmala Sitharaman said on Saturday. In her second Budget presentation, the finance minister said the Centre has proposed that discoms should replace conventional meters with smart pre-paid meters and give option to consumers to choose electricity suppliers.

State governments need to replace conventional electricity meters with pre-paid smart meters in three years, she said.

The finance minster also said natural gas pipeline grid will be expanded to 27,000 km from over 16,000 km now and further reforms for transparent price discovery for natural gas will be undertaken.

FM proposes scheme for manufacturing cell phones, semi conductors, electronic devices
Finance Minister Nirmala Sitharaman on Saturday proposed a scheme for manufacturing cell phones, semi conductors and other electronic devices.

In her second Budget presentation, the finance minister said, India needs to boost domestic manufacturing and attract investment in electronic manufacturing.

The vision of the government is to make each district an export hub, Sitharaman said.

The government aims to facilitate clearances even at the state level and also set up investment clearance cell to give investors free investment advisory, she added.

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Sitharaman also said youth and fishery extension work will be enabled by rural youth as 'Sagar Mitras' and 500 fish farmer organisations will be set up.

She further said milk processing capacity will be doubled by 2025.