LOK SABHA
The government has been encouraging private investment in renewable energy sector through a mix of fiscal and financial incentives that include capital/ interest subsidy, accelerated depreciation, nil/ concessional excise and customs duties. Further, as applicable to all new infrastructure projects, profits earned from sale of renewable power are exempt from Income Tax for any 10 years out of the first 15 years of project’s operation. This apart, preferential tariff for grid interactive renewable power is being given in most potential States.
There is no proposal to set up corpus for the research and development in various new and development technologies at present. However, an amount of Rs.1100 crores has been proposed to support Research and Development on different aspects of new and renewable energy technologies during 11th Plan period.
This information was given by the Minister of State in the Ministry of New and Renewable Sources, Sh.Vilas Muttemwar in a written reply to a question in the Lok Sabha today.
KP
(Release ID :33092)