To boost power sector investments, the government is considering a proposal to include power generating units in the list of infrastructure projects that qualify for getting investment-linked deductions, official sources said on Monday.
The move is expected to bring investments into a sector considered crucial for economic growth. Money flows into greenfield power projects have dried out as work on several upcoming and newly commissioned projects have come to a grinding halt over financing and fuel-related issues.
According to government sources, both the Power Ministry and industry associations have approached Finance Ministry for looking at including power sector projects in the scheme on investment-linked deductions retrospectively from April 1, 2017.
This, it is believed, would attract investment in the sector as project developers would defer tax payments to future years since tax breaks will be available till the time the project starts generating revenue. Read More
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