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Alternative power to get a boost

Generation-based incentives and depreciation allowance to encourage production of power from new and renewable sources will be on top of the 12th Plan agenda.

business Updated: Sep 13, 2012 21:35 IST

Generation-based incentives and depreciation allowance to encourage production of power from new and renewable sources will be on top of the 12th Plan agenda.

"The provision for inclusion of these incentives have been discussed with the Planning Commission and I have requested the planners to offer these for a larger period of eight years rather than five given during the 11th Plan," said Farooq Abdullah, new and renewable energy minister.

Abdullah expressed confidence that the National Development Council which is scheduled to meet soon would put its stamp of approval to the ministry's proposals for the 12th Plan (2012-17).

A group of ministers (GoM) will decide on the modalities for increasing the ethanol: petrol mix from the current 3% to 5%, he said. The GoM's decisions will be posed to the Cabinet soon.

He also cautioned the domestic industry against the import of cheap, low quality technology while underlining the need to acquire the state-of-the-art equipment and technology from the US and Europe.