Indian LED Lights Tax Reduction to 6%

Pranab Mukherjee, India’s finance minister, stated in his annual budget speech on the 16th that the government will adopt tax-free incentive measures for imported solar thermal equipment, which will result in ReliancePower Ltd. The cost of solar energy developers when they build a plant can therefore be reduced. On the other hand, the budget also proposes to reduce the excise duty on LED lamps to 6%, and to provide tax-free treatment for lithium-ion batteries used in electric vehicles and hybrid vehicles.