Tax Exemptions

The ministry gives tax exemptions for the corporates, but not to the individuals. I feel it is high time they think out of the box. Our coals reserves are in a mess, Uranium has to be imported, even though we have it in NE region, Thanks to some NGOs, Hydel Stations have to depend on rain water.  New generation capacities require huge investments and time. Then why not think differently.

I would like to see in this year's budget tax exemptions for individuals who purchase energy efficient appliances / electrical light fittings / solar heating systems etc. yes, we have subsidy on solar heating systems. But there should be tax exemptions too. The exemptions could be different for different savings. 

Say if conventional refrigerator consumes X wattage, then exemptions could be in slabs of 50 - 70 -  100 % based on energy savings of 10 - 20 - 30 % and above. Similarly, A CFL Fitting / Lamp consumes say 30 % less than conventional tube light / incandescent  lamp and a LED fitting consumes  60 - 70 % less power the conventional lamp source,  then the exemptions should be 30 % and 70 %  or even 100 % respectively. The individuals should attach all such bills with the returns to get exemptions. It will certainly motivate the real end users to buy energy efficient lamps / fittings / appliances. 

We should realize that  Every Unit saved is Unit Generated. 

Our population is about 120 crore which may be 30 crore houses . If each house saves two unit each, every day, the country would have 60 crore units surplus from the existing generation capacity, with out having to incur huge capital investments. I have posted this on the PMO India FB Link & also on the Finance Ministry FB Link. 

I had this one thought. If the ministry asks the people, there may be 30 crore such or better thoughts.

Hope the concerned authorities see it and weigh it seriously.