The Union Budget 2014-15 has focused on policy and taxation reforms to provide impetus to strengthening of the economy. The Hon'ble Finance Minister has expressed the Government's desire to move towards an annual growth of 8 per cent. This is possible only if the power sector grows at 11-12 per cent per annum to meet the growing demands of the economy.  

Commenting on the Budget, Tata Power said, ''The Government has, rightly, given a high priority to the development of renewable sources of energy. The budget seeks to boost the renewable energy sector with incentives for domestic manufacturing and setting up of renewable power generation facilities in the country. Encouraging large scale as well as solar power generation through fiscal incentives will help boost adoption, revive investor confidence, and increase capacity. With Tata Power's focus on renewable energy, we welcome the Government's proposal to develop and allocate Rs 5 billion for Ultra Mega Solar Power Projects in Rajasthan, Gujarat, Tamil Nadu, and Ladakh in J&K.''

''Fuel security to domestic coal based plants could become reality by providing coal linkages, improving coal production and optimizing transport of coal. The budget has also made the basic custom duty on varieties of coal imports uniform. But a lot more still needs to be done to make existing imported coal based plants viable,'' it said. 

Tata Power further said, ''We are hopeful that introduction of innovative schemes like the Gujarat's Jyotigram Yojana for feeder separation would help in increasing efficiency and bringing down distribution losses. The 200 crore fund allocated to distribution reforms in Delhi is a good step. We are hopeful that the positive announcements of the budget will be implemented effectively.''