Coal India wins tax-cut boost as environmentalists fret

Coal India wins tax-cut boost as environmentalists fret

State-run Coal India Ltd , saddled with millions of tonnes of unsold coal, is expected to be the biggest beneficiary of a controversial government decision to more than halve the sales tax on the fuel after a jump in local supplies.

The world’s third-largest greenhouse gas emitting country said last Friday it would lower the duty on coal from July 1 and impose a new 18 percent tax on solar cells and modules as part of a broader tax overhaul.

The moves are seen as helping boost local sales of the fossil fuel, but hurting the young and booming renewable energy industry. Most of the solar cells and modules are imported from China. Read more

Credits:business-standard.com

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