Thread by @srivatsayb

Want to know how Modi pays back his debts to corporates like Adani & Ambani at the cost of Indian citizens?

On July 30th, Modi notified a 25% increase in customs duty on Solar panels. This is bound to increase solar power tariffs by 30 Paisa per unit.

Why did Modi do such an anti-Consumer move? The Modi Govt says that it is to protect domestic manufacturers of Solar Panels. But here are the facts:

1) Indian Solar Power producers import 90% of their panels to keep costs low.

2) Indian Panel manufacturers currently have panel production capacity of only 3000MW/year, but demand is close to 20000MW. They can't meet demand anytime in the near future

3) India's focus should be add solar capacity. Not subsidize manufacturers who can't compete with Chinese

4) Solar Power Producers had gone to court challenging a petition filed by Solar Panel Manufacturers like Adani.

Orissa High Court had passed an order not to impose any duty. Yet the Modi went ahead and imposed a 25% custom duty, which is a clear contempt of court.

Real reason for the duty hike is that Adani has built India's Biggest Solar Panel Manufacturing Plant but was struggling to compete on costs or technology with the Chinese.

Modi steps in and saves Adani's investment by increasing cost on Chinese imports by 25%!

Who is the eventual loser on all this? Of-course it's us, the Consumers, who will be forced to pay more electricity tariffs. Also, India's plans to become a solar powerhouse have been compromised.

This is one of the myriad ways in which Modi pays his debts to his crony funders.