Industry body The Associated Chamber of Commerce and Industry of India (ASSOCHAM) welcomed the Union Cabinet’s approval of a national policy for hydropower announced on Thursday.
The major factor for rising prices of petrol and diesel is the global macro situation, said industry body ASSOCHAM but expressed hope the tax burden would be brought down to some extent.
Reducing taxes is the best solution to check the spurt in fuel prices which would also tremendously help India on the exports front, industry body Assocham said today.
All Is Not Lost In Stressed Power Projects, Railways, PPAs, Electric Vehicles To Be Growth Drivers: ASSOCHAM Study
“Stressed assets remain a key concern for power sector in India. Out of the 24 stressed projects having capacity of 41.81 GW, 8,300 MWs are without any power purchase agreements (PPA), 9500 MW capacity are having partial PPAs.
Industry body ASSOCHAM has requested Odisha government to exempt electricity duty for ferro alloy plants to encourage investment for setting up of metallurgical plants across the mineral-rich state.
Apex industry body ASSOCHAM has urged the Centre to fix Goods and Services Tax (GST) rates for hydropower at par with wind and solar so that value added cost and tax are commensurate for all renewable power projects.
Industry body Assocham has urged the Centre to fix Goods and Services Tax (GST)rate for hydropower at par with wind and solar so that value added cost and tax commensurate for all renewable power projects.
Power Minister R K Singh today said the hydro power policy is in the final leg and will soon be sent for the Cabinet approval.
In the wake of some distribution companies dishonouring their power purchase agreements, the power ministry plans to “codify laws” so that such pacts are honoured,including stricter penalties for delinquencies, the government said.
Commerce and Industry Minister Suresh Prabhu will hold a meeting with industry bodies on September 26 to discuss issues pertaining to industrial growth and the interventions required to resolve them, a government official said.