Generation-based incentives and depreciation allowance to encourage production of power from new and renewable sources will be on top agenda for the 12th Plan.
??The provision for inclusion of these incentives has been discussed with the Planning Commission and I have requested the planners to offer these for a larger period of eight years rather than five that was given during 11th Plan,? said new and renewable energy minister Farooq Abdullah while addressing the India Carbon Market Conclave on Thursday.
The India Carbon Market Conclave, the largest platform to engage with the Indian carbon market, is the flagship event in the carbon market space organised by the Ficci in partnership with the ministry of environment and forests (MoEF) and the World Bank. The sixth edition of the event is being held on September 12-13 in New Delhi.
Taking stock of the negotiations, the conclave deliberated on key themes to gauge the direction of international climate dialogue and India?s domestic agenda.
Abdullah also said that a GoM will decide on the modalities for increasing the ethanol: petrol mix from the present 3% to 5% besides cautioning the domestic industry against the import of cheap, low quality technology while underlining the need to acquire the state-of-the-art equipment and technology from the US and Europe and also urged the Indian industry to beef up their manufacturing capabilities and capacities.
Arbind Prasad, D-G of Ficci, stated the challenge before India in the this sector is to reduce the per-unit cost. He said that there is a continuous need to innovate, increase efficiencies and bring down costs.