Budget 2023: How govt can support India's clean energy vision
1 year, 10 months ago

Budget 2023: How govt can support India's clean energy vision

India Today  

India has always been committed to increasing its share in the Renewable Energy space, mainly on account of its efforts to decrease dependency on fossil fuels and also due to its vulnerability to climate change. B) Extend the beneficial tax regime: Corporate income-tax rate of 15%2 is applicable to companies incorporated post October 2019 and who commence power generation by March 2024. E) Beneficial tax regime for foreign investors: Presently, ITA provides for a special tax regime for Sovereign Wealth Funds investing in specified businesses including in renewable energy. To promote foreign investment in new projects, the government could consider introducing similar provisions for all foreign investors by providing a preferential tax regime on income earned from India, subject to certain conditions such as a lock-in period, minimum investment, etc. G) Specific tax regime for hydrogen power Hydro power holds great potential in achieving India’s commitment of 500 GW by 2030.

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History of this topic

A green wealth tax in Union Budget 2024: Data
4 months, 4 weeks ago

A green wealth tax in Union Budget 2024: Data

The Hindu  

This article appeared in The Hindu’s print edition on the day of the Budget presentation, 23 July 2024 Today, the new government will present its maiden Budget, which needs to deliver on two critical issues confronting the common people — unemployment and inequality. Chart 2 plots the ratio of expenses incurred by the Indian elite and an average Indian across …

Major reforms expected by key sectors in Budget 2024, will it deliver?
5 months ago

Major reforms expected by key sectors in Budget 2024, will it deliver?

New Indian Express  

With the first Union Budget after the Lok Sabha elections all set to be unveiled, there are great expectations regarding major policy and tax reforms. These expectations include: A new subsidy scheme similar to FAME II with a more comprehensive coverage; Streamlining policies towards R&D efforts in battery technology and grid integration for development of a widespread and reliable charging …

What Will India's Energy Sector Get From Budget 2024? Check Top Expectations
5 months, 2 weeks ago

What Will India's Energy Sector Get From Budget 2024? Check Top Expectations

News 18  

Union Budget 2024: The energy sector in India has a range of expectations from the Budget 2024. Reducing the GST to 5% would make Auto LPG more competitively priced, fostering greater adoption and supporting the auto industry’s shift towards greener technologies,” Gupta highlighted. “We urge the Finance Ministry to consider our appeal for a GST reduction on the fuel, kits …

A fresh start: On the Goods and Services Tax Council meet
5 months, 3 weeks ago

A fresh start: On the Goods and Services Tax Council meet

The Hindu  

The Goods and Services Tax Council was convened last week for the first time in nearly nine months. Apart from several industry-specific measures, a few of which will kick in with retrospective effect, the Council also opted to waive interest and penalty on tax dues for the first three years of GST, provided they are paid by March 2025. Beyond …

Next government must urgently fix ‘unnecessarily complex’, counter-productive GST: 13th Finance Commission chair
8 months, 2 weeks ago

Next government must urgently fix ‘unnecessarily complex’, counter-productive GST: 13th Finance Commission chair

The Hindu  

A key architect of India’s tax reforms and the chairman of the Thirteenth Finance Commission Vijay Kelkar has called upon the country’s next government to undertake urgent reforms in the “unnecessarily complex” Goods and Services Tax regime, such as switching to a single tax rate of 12% and sharing revenues with local governments and municipal corporations. Stating that a single …

Budget 2024: Industry body seeks tax holiday on standalone battery energy storage
11 months ago

Budget 2024: Industry body seeks tax holiday on standalone battery energy storage

Hindustan Times  

Industry body India Energy Storage Alliance has demanded a 10-year tax holiday for projects with standalone battery energy storage using renewable energy. In a pre-budget memorandum sent to the finance ministry, IESA also suggested to exempt custom duty for energy storage systems being imported particularly from the countries where India has ties on free-trade agreements like Korea, Taiwan, Japan, Vietnam, …

Electricity under GST purview
11 months, 3 weeks ago

Electricity under GST purview

Deccan Chronicle  

New Delhi: The inclusion of electricity within the goods and services tax framework may be a reality soon as the government is exploring all the options in this regard. “As the power ministry is well aware of its potential effects, especially on the revenue loss for the industry, state revenues, and household electricity expenses, the Centre and states are jointly …

Government Explores Inclusion of Electricity in GST Framework
11 months, 3 weeks ago

Government Explores Inclusion of Electricity in GST Framework

Deccan Chronicle  

New Delhi: The inclusion of electricity within the goods and services tax framework may be a reality soon as the government is exploring all the options in this regard. “As the power ministry is well aware of its potential effects, especially on the revenue loss for the industry, state revenues, and household electricity expenses, the Centre and states are jointly …

GST has been a gamechanger for India’s economy
1 year, 5 months ago

GST has been a gamechanger for India’s economy

Live Mint  

Ahead of the launch of the goods and services tax on 1 July 2017, this newspaper on 6 June 2017 had published my piece titled ‘Indian GST: Unparalleled Tax Reform’ in which I had highlighted the unique features of India's GST regime such as the Dual GST structure; Integrated GST mechanism; invoice matching; single digital interface and the establishment of …

Budget 2023-24 Expectation: Seven-point recommendation to achieve energy independence for India by 2050
1 year, 11 months ago

Budget 2023-24 Expectation: Seven-point recommendation to achieve energy independence for India by 2050

Firstpost  

Indigenous Green Hydrogen production can be a game changer during India’s existing Amrut-Kaal, as this would catapult the Indian economy into the $5 trillion club Today the world is volatile and uncertain. On this note, we are glad that the Indian government under the leadership of Prime Minister Narendra Modi has announced several forward-looking legislative reforms and policies to achieve …

Union Budget 2023-24: Why setting store by GST, fuel tax regressive
1 year, 11 months ago

Union Budget 2023-24: Why setting store by GST, fuel tax regressive

Firstpost  

The Goods and Services Tax collections have been surging recording Rs 1.50 lakh crore or so in December 2022. Fuel tax collections for the Centre too have been impressive at around Rs 8 lakh crore in each of the three financial years ending 2021. Add to this the Value-Added Tax imposed by state governments on fuel at the ballpark figure …

The case for a comprehensive Indian climate bill
2 years, 4 months ago

The case for a comprehensive Indian climate bill

Live Mint  

The US recently passed the Inflation Reduction Act of 2022 with an outlay of $370 billion for the decarbonization of its economy. The cabinet also approved India’s Nationally Determined Contributions, which included a commitment to reduce the emission intensity of the country’s gross domestic product by 45% by 2030 and achieve a cumulative 50% installed capacity for electric power from …

New Energy Bill Promotes Green Hydrogen, Incentivises Use of Clean Technology - News18
2 years, 5 months ago

New Energy Bill Promotes Green Hydrogen, Incentivises Use of Clean Technology - News18

News 18  

Parliament is the temple of democracy and parliamentary procedures the rites by which the will of the people is translated into practice. The ongoing Monsoon Session of Parliament will see the tabling of 24 bills including the Energy Conservation Bill, 2022, which stresses promoting clean energy and use of clean hydrogen. The ministry of power had last year proposed changes …

Emissions reduced by 28% over 2005 levels, 80% of power to come from renewable sources by 2030: Govt
3 years, 3 months ago

Emissions reduced by 28% over 2005 levels, 80% of power to come from renewable sources by 2030: Govt

India Today  

India has managed to fulfil the commitments part of the Paris Agreement as it looks to boost renewable energy capacity. India has been aggressively pushing for energy efficiency improvements for the past two decades through a combination of innovative market mechanisms and business models, institutional strengthening and capacity building, as well as demand creation measures," New and Renewable Energy Minister …

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