Power Industry empowered by lower import duty

The reduction in customs duty on Aluminium & Copper reduces operational costs

The reduction in the customs duty on Aluminium from 35% to 25% and on Copper from 25% to 15% is likely to lead to fall in the domestic prices of Aluminium and Copper.

This will benefit the power industry, which is the major user of Aluminium in the country. Also copper is widely used in the power industry, and the reduction in customs duty therein will also benefit the power industry.

The incremental depreciation of 15% for new units and expansion by atleast 25% will also benefit the power companies, which are adding fresh capacities in FY 2002-03.

Other initiatives of the budget in accelerating the state level reforms in power sector will also have beneficial impact.

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