Sops Planned For Renewable Energy

The government plans to announce a special package of fiscal incentives in the budget next month to boost the growth of the country's renewable energy sector with a focus on increasing India's wind power generation capacity to 60,000 MW by 2022.

Finance minister Arun Jaitley is likely to announce a slew measures in his budget including a 10-year tax holiday for wind power producers, concessions in customs duty and exemption in excise duty for procurement of technology and equipment for projects.

In addition, Jaitley may also increase the fund allocation for the ministry of new and renewable energy to enable it to increase support for green projects and research and development activities.

"Growth of renewable energy has become central to the development agenda of the new government. This has been seen with a series of initiatives announced by the government in this segment. The budget would take the initiatives further so that all the goals are realised," said a government official privy to the development.

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Reference: our-green-energy.blogspot.com