On February 1, 2017, the finance minister Arun Jaitley presented the union budget before the Parliament for the financial year 2017-18. He has reduced customs duty on LNG to 2.5 per cent from 5 per cent, and to zero on many raw material & components used for making solar modules and panels. He has also proposed lowering of income tax to 10 per cent from 30 per cent on gains to the companies from the carbon trading. The focus of the budget is on encouraging green technologies.
