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Mains Answer Writing Latest Questions

Monal Bharti
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Asked: 2024-07-20T16:19:56+05:30 In: , , ,

Climate change and union governance

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Analyze the impact of Union Budget provisions on renewable energy development in India. What fiscal incentives and subsidies have been provided to promote clean energy technologies?

 

 

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4 Answers

  1. Abhirami
    Begginer

    The Union Budget provisions in India have aimed to promote renewable energy development and support the transition to clean energy technologies. Here are some key fiscal incentives and subsidies provided:

    1. Financial Support: The government has allocated funds and provided financial support to organizations like the Indian Renewable Energy Development Agency (IREDA) to improve the availability of funds for clean energy projects .
    2. Tax Incentives: The budget has included tax incentives to encourage investment in renewable energy. This includes tax breaks for companies that invest in sustainable technologies and practices, which can accelerate the adoption of green manufacturing practices .
    3. Subsidies: The Ministry of New and Renewable Energy (MNRE) provides subsidies in the form of capital subsidies and viability gap funding to promote the development of renewable energy projects . However, it is worth noting that subsidies for renewable energy have seen a decline in recent years due to renewable energy technologies reaching cost parity.
    4. GST Concessions: The budget has considered offering Goods and Services Tax (GST) concessions for electric vehicles and renewable energy components, which can make these technologies more affordable and accessible .
    5. Policy Support: The government has implemented policies and regulations to support renewable energy development. These policies create a favorable environment for renewable energy projects and provide a framework for their implementation
  2. Abhirami
    Begginer

    The Union Budget provisions in India have aimed to promote renewable energy development and support the transition to clean energy technologies. Here are some key fiscal incentives and subsidies provided:

    1. Financial Support: The government has allocated funds and provided financial support to organizations like the Indian Renewable Energy Development Agency (IREDA) to improve the availability of funds for clean energy projects .
    2. Tax Incentives: The budget has included tax incentives to encourage investment in renewable energy. This includes tax breaks for companies that invest in sustainable technologies and practices, which can accelerate the adoption of green manufacturing practices .
    3. Subsidies: The Ministry of New and Renewable Energy (MNRE) provides subsidies in the form of capital subsidies and viability gap funding to promote the development of renewable energy projects . However, it is worth noting that subsidies for renewable energy have seen a decline in recent years due to renewable energy technologies reaching cost parity.
    4. GST Concessions: The budget has considered offering Goods and Services Tax (GST) concessions for electric vehicles and renewable energy components, which can make these technologies more affordable and accessible .
    5. Policy Support: The government has implemented policies and regulations to support renewable energy development. These policies create a favorable environment for renewable energy projects and provide a framework for their implementation
  3. Abhirami
    Begginer

    The Union Budget provisions in India have aimed to promote renewable energy development and support the transition to clean energy technologies. Here are some key fiscal incentives and subsidies provided:

    1. Financial Support: The government has allocated funds and provided financial support to organizations like the Indian Renewable Energy Development Agency (IREDA) to improve the availability of funds for clean energy projects .
    2. Tax Incentives: The budget has included tax incentives to encourage investment in renewable energy. This includes tax breaks for companies that invest in sustainable technologies and practices, which can accelerate the adoption of green manufacturing practices .
    3. Subsidies: The Ministry of New and Renewable Energy (MNRE) provides subsidies in the form of capital subsidies and viability gap funding to promote the development of renewable energy projects . However, it is worth noting that subsidies for renewable energy have seen a decline in recent years due to renewable energy technologies reaching cost parity.
    4. GST Concessions: The budget has considered offering Goods and Services Tax (GST) concessions for electric vehicles and renewable energy components, which can make these technologies more affordable and accessible .
    5. Policy Support: The government has implemented policies and regulations to support renewable energy development. These policies create a favorable environment for renewable energy projects and provide a framework for their implementation
  4. Abhirami
    Begginer

    The Union Budget provisions in India have aimed to promote renewable energy development and support the transition to clean energy technologies. Here are some key fiscal incentives and subsidies provided:

    1. Financial Support: The government has allocated funds and provided financial support to organizations like the Indian Renewable Energy Development Agency (IREDA) to improve the availability of funds for clean energy projects .
    2. Tax Incentives: The budget has included tax incentives to encourage investment in renewable energy. This includes tax breaks for companies that invest in sustainable technologies and practices, which can accelerate the adoption of green manufacturing practices .
    3. Subsidies: The Ministry of New and Renewable Energy (MNRE) provides subsidies in the form of capital subsidies and viability gap funding to promote the development of renewable energy projects . However, it is worth noting that subsidies for renewable energy have seen a decline in recent years due to renewable energy technologies reaching cost parity.
    4. GST Concessions: The budget has considered offering Goods and Services Tax (GST) concessions for electric vehicles and renewable energy components, which can make these technologies more affordable and accessible .
    5. Policy Support: The government has implemented policies and regulations to support renewable energy development. These policies create a favorable environment for renewable energy projects and provide a framework for their implementation

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