Union Budget 2014-15: Energy Sector

Union Finance Minister, Arun Jaitley on 10 July 2014 presented Union Budget 2014-15. In his maiden budget, the Union Finance Minister announced certain major plans related to Energy sector.

Plans announced for the energy sector in the budget 2014-15 are
Energy
• 100 crore is allocated for a new scheme “Ultra-Modern Super Critical Coal Based Thermal Power Technology”‰
• Comprehensive measures for enhancing domestic coal production are being put in place
• Adequate quantity of coal will be provided to power plants which are already commissioned or would be commissioned by March 2015
• An exercise to rationalize coal linkages to optimize transport of coal and reduce cost of power is underway

New & Renewable Energy
• 500 crores provided for Ultra Mega Solar Power Projects in Rajasthan, Gujarat, Tamil Nadu, Andhra Pradesh and Laddakh
• 400 crores provided for a scheme for solar power driven agricultural pump sets and water pumping stations
• 100 crore provided for the development of 1 MW Solar Parks on the banks of canals
• A Green Energy Corridor Project is being implemented to facilitate evacuation of renewable energy across the country

Petroleum & Natural Gas
• Production and exploitation of Coal Bed Methane reserves will be accelerated
• Possibility of using modern technology to revive old or closed wells to be explored
• Usage of PNG to be rapidly scaled up in a Mission mode
• Proposal to develop pipelines using appropriate PPP models