Latest News – The effort of the Centre to financially support clean energy initiatives by imposing a cess on coal producers seems to have failed.
The cess pool has collected Rs 54,000 crore since 2011-12 but only half has been transferred to the National Clean Energy Fund (NCEF), and barely Rs 9,000 crore has been used to “finance clean energy projects”. NCEF was renamed Clean Environment Fund in last year’s Budget.
A major share of the NCEF fund went as “budgetary allocation” to the Ministry of New and Renewable Energy (MNRE). The amount of Budget grant to the MNRE was Rs 1,977 crore in 2014-15; Rs 4,000 crore in 2015-16 and Rs 4,947 crore in 2016-17 — 98 per cent of the MNRE’s budget — indicated data compiled by the finance ministry, which was reviewed by Business Standard.
The disbursed amount included projects from (Read More)