India Announces Coal Tax To Fund Renewable Energy Projects: Scientific American
By: Mridul Chadha
In a landmark announcement the Indian Finance Minister, in his annual Budget speech, put forward the proposal of setting of National Clean Energy Fund which would be constituted through tax levied on coal usage in the country. The quantum of tax would be INR 50 per ton of coal used, which would generate an annual revenue of around $600 million.
The announcement is extremely important and a major step in India’s endeavor to promote renewable energy infrastructure. India is heavily dependent on coal for power generation with 75% of the power generated coming from coal-fired power plants…
via India Announces Coal Tax To Fund Renewable Energy Projects: Scientific American.
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