The Government has
been giving due encouragement to the 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, benefit under Section 80-1A of Income Tax Act
1961 is available to undertakings setup for the generation
or generation and distribution of Renewable power in
India. This apart, preferential tariff for grid interactive
renewable power is being given in most potential States.
Avenues for cooperation in renewable
energy sector are being explored with several countries
that include, inter-alia, Brazil, Denmark, Germany,
Japan, Iceland, Italy, Philippines, South Africa, Thailand
and USA.
Renewable energy products are already
being exported mainly in the wind energy, small hydro,
solar and biomass energy sectors. The prospects for
such exports are expected to only improve with rising
global oil prices.
This information was given by the
Minister of State for New And Renewable Energy, Shri
Vilas Muttemwar, in a written reply to a question by
Shri Shreegopal Vyas, Shri Balavant Alias Bal Apte and
Shrimati Maya Singh in the Rajya Sabha today.
Source:
Press Information Bureau Date: March 10, 2008
