The government may provide for targeted fiscal incentives and allocation of funds for promotion of green hydrogen in the country in Union Budget 2022-23, which is slated to be unveiled in Parliament on Tuesday. The government launched National Hydrogen Mission in 2021. Earlier this month, Power and New & Renewable Energy Minister R K Singh had indicated that a green hydrogen policy will be unveiled in February which would feature many incentives to boost green hydrogen in the country. "While 2021 saw the launch of National Hydrogen Mission, it is likely that the Budget may provide for targeted fiscal incentives for R&D in green hydrogen segment, creation of domestic supply chain for hydrogen and reduce customs duties on electrolysers to boost green hydrogen production," says Venkatesh Raman Prasad, Partner, J Sagar Associates (JSA).
Finance Minister Nirmala Sitharaman on Tuesday proposed enhancing the funding under the PLI scheme for domestic solar cells and module manufacturing to Rs 24,000 crore from the existing Rs 4,500 crore to make India an exporting nation. "For facilitating domestic manufacturing for the ambitious goal of 280GW of installed solar capacity by 2030, an additional allocation of Rs 19,500 crore for PLI scheme for manufacturing of high efficiency (solar) modules with priority of fully integrate manufacturing units for polysilicon to solar PV modules will be made," Sitharaman said in her Budget speech in the Lok Sabha. In April 2021, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules.
The Government of India has decided to launch a massive rural public works scheme, 'Garib Kalyan Rojgar Abhiyaan', to "empower and provide livelihood opportunities to the returnee migrant workers and rural citizens". Prime Minister Narendra Modi will launch this scheme on June 20 through video conference in the presence of Bihar Chief Minister Nitish Kumar and Deputy Chief Minister Sushil Kumar Modi.
India's power consumption grew 11.45 per cent to 55.37 billion units (BU) in the first half of October this year, mainly driven by buoyancy in industrial and commercial activities, as per government data.
Foreign investment firms, especially private equity, are jittery about the Indian market as uncertainty continues to shroud the energy sector.
Banks need assistance to complete projects that they have taken over
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
On Monday, a journalist sat through a closed-door meeting between Goyal and state power ministers, in the guise of an event manager.
Union Ministers Smriti Irani and D V Sadananda Gowda have been dropped from Inter-State Council, official sources said on Wednesday.
Merger of the three key ministries is expected to help in removing the hurdles in these areas.
PlanCom makes presentation with secretaries of key ministries in tow.
Gujarat, the home state of Prime Minister Narendra Modi and portrayed as 'growth engine' of India has witnessed a steep fall in new investments for the second quarter of 2014-15 compared to the first quarter of the same fiscal.
On day 1, says retrospective taxation should be avoided; Sets up special investigation team to unearth black money.
Goa, Uttarakhand and Meghalaya will initiate schemes to enable 24x7 power to consumers.
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Conservation of energy dominated Ghosh's thoughts ever since he completed his Masters in Energy Science and Technology from Jadavpur University early 2000.
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