National Clean Energy Fund launched in India

Posted on January 25, 2011 by

The Finance Bill presented recently for the financial year 2010-11 created the National Clean Energy Fund to invest in entrepreneurial ventures and research in the field of clean energy technologies. The Fund will be financed through a carbon tax on the coal industry at the rate of Rs. 50.00 for each metric ton of coal used in India, irrespective of the source – domestic or imported into the country. This new tax could help raise about Rs. 25 billion (US $ 544 million).

The mechanism for implementation and channelling of this fund is something that remains to be seen.

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