India imposes coal tax.

Author:Singh, Damandeep
Position:Brief article
 
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In February, Indian Finance Minister Pranab Mukherjee announced that a "Clean Energy Cess," or tax, of 50 rupees (US$1.10) per ton will be levied on domestic and imported coal. The funds will help establish a National Clean Energy Fund for financing "research and innovative projects in clean technologies," which likely include India's National Solar Mission and innovations to promote more-efficient use of coal.

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With India expected to consume 600 million tons of coal in the 2010-11 fiscal year, the tax would raise some 30 billion rupees ($660 million). The budget also reduces capital costs for solar-industry investors by providing a concessional duty of 5 percent on all machinery and technical equipment required for setting up photovoltaic and solar...

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