India Doubles Tax On Coal To Fund Clean Energy, Environmental Projects

[ScienceRocks]

India Doubles Tax On Coal To Fund Clean Energy, Environmental Projects

http://cleantechnica.com/2014/07/20/india-doubles-tax-coal-fund-clean-energy-environmental-projects/

22,000 MW solar power capacity by 2022, a dedicated national-level program for promoting wind energy generation, implementation of the world’s largest solar power projects (with capacity of up to 4,000 MW), covering canals with solar panels, implementing dedicated transmission corridors for distributing electricity from renewable energy projects, and cleaning one of the largest rivers in India. This is just a small list of initiatives that India plans to implement in the renewable energy and the environment protection sector.

Such initiatives would require billions of dollars of investment. So India’s finance minister has decided to double the tax on every metric ton of coal mined or imported in the country. Coal mining companies and importers have paid ₹50 ($0.83) per metric of coal since 2010, this tax has now been increased to ₹100 ($1.67).

The scope of expenditure from this fund has also been widened to include environmental projects and research and development projects in the clean energy and environment sectors. Probably for the first time in India’s history, a separate ministry for cleaning the Ganga river has been established. The Ganges has been on the receiving end of blatant abuse for several decades, threatening probably the single largest source of potable and irrigation water in India. Stating the Ganges is the lifeline of Bangladesh would probably a gross understatement. The aim is to clean rivers across the country and develop their banks as major tourist and pilgrimage spots.

If this cleans up the rivers and the air in india = a good idea! I hope they install a EPA soon.