GHG Monitor
7/25/2014
ON THE INTERNATIONAL FRONT
India plans to double its clean energy tax in its FY 2015 budget, Minister of Finance Arun Jaitley announced last week. The tax, known as the ‘Clean Energy Cess,’ is levied on coal, peat and lignite to finance clean energy initiatives and fund research. In his announcement, Jaitley said the National Clean Energy Fund would be expanded to also finance environmental projects. To provide the additional funding needed to finance this expansion, the tax, which currently sits at 50 rupees or $0.83 per tonne of coal, peat or lignite mined or imported in the country, will be raised to 100 rupees per tonne ($1.67).
