MISLEADING SOLAR SUBSIDY
The Govt in order to encourage alternative use of energy provides subsidy. The subsidy is only available if loan is taken and paid by instalments through Nationalised and other designated Banks for a compulsory period of two years. Hence no subsidy is payable on direct purchase Besides the subsidy is not cleared immediately and takes a lot of follow up even after submitting all documentations and completion report. In the end you end up paying banks much more interests a, processing , handling and other hidden charges besides regular instalments even though the instalments are computed by considering the interest component. The subsidy must be released without hassles and immediately to make it attractive and without forcing to take loan, which adds unnecessarily to costs and making subsidy meaningless. Nelson Lopes . Chinchinim
