The panel said that it is apprehensive about achievement The panel said that it is apprehensive about achievement of this target (4000 MW wind power) and feels that more funds should be made available for this sector in view of same capacity addition target for next fiscal. It said that the ministry should approach Finance Ministry for allocation of more funds for wind power sector. The panel said that the ministry should take up the matter with Finance Ministry on a urgent basis to ensure continued financial support for the ongoing and future renewable energy projects in the even of National Clean Energy Fund (NCEF) being given to states to indemnify them for their losses owing to Good and Services Tax (GST).
The NCEF was created out of cess on coal produced as well as imported at Rs 400 per tonne to provide financial support to clean energy initiatives.
It also said that the ministry should sincerely pursue for a separate fund dedicated to renewable energy projects. The panel asked the ministry that it should also pursue with GST Council for either excluding renewables from GST regime so as to ensure continuance of exemptions provided to goods used in renewable energy sector or imposing zero per cent (tax) rate on reneweables, so that it does not result in increasing in cost of renewable energy.
Source:PTI
