CII and UKFCO to develop fiscal instruments for low carbon industrial development in India

CII and UKFCO to develop fiscal instruments for low carbon industrial development in India
CII with the support of UKFCO took up a project to develop fiscal instruments for low carbon industrial development in the state of West Bengal, Odisha and Tamil Nadu. The activities involved a review of the state existing policies, developing a report on national and international best practices and identifying specific fiscal instruments along with cost benefits for each of the three states.
Five specific instruments focusing on power plants, industry, sponge iron industry, waste management and building sector have been developed. The instruments were shared with the stake holders (government, private sector and multilateral agencies) at a steering committee meeting.
WBIDC, Department of Power, Department of Environment and Forests, WBIDC, WHREDA and WBPCB have been involved in the course of the project in terms of refining the suggestions. CII along with the Government of West Bengal would be forming committees to develop implementation plans for the instruments.
Speaking at the meeting, Malay De, Principal Secretary, Department of Power, Government of West Bengal congratulating CII on this initiative said, “The Department of Power has been taking up several initiatives for efficiency improvement of thermal power plants and increasing renewable energy based power generation in the state. Fiscal instruments are a good way of enhancing efficiency. We need to refine the instruments so that they are easily implementable.”

Click to comment

You must be logged in to post a comment Login

Leave a Reply

Most Popular

To Top