Green energy min seeks Rs 40,000 cr | business | Hindustan Times
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Green energy min seeks Rs 40,000 cr

The ministry of new and renewable energy (MNRE) has sought a budget allocation of Rs 40,000 crore for the 12th Five-Year Plan (2012-17) to counter a host of issues plaguing the industry including credit crunch, poor infrastructure facilities and a lack of awareness and confidence among project developers.

business Updated: Feb 15, 2012 21:49 IST
Himani Chandna Gurtoo

The ministry of new and renewable energy (MNRE) has sought a budget allocation of Rs 40,000 crore for the 12th Five-Year Plan (2012-17) to counter a host of issues plaguing the industry including credit crunch, poor infrastructure facilities and a lack of awareness and confidence among project developers.

Besides, the ministry is also facing hurdles in the production of biomass gas, with collection and transportation of agro residues to the generation site, posing problems.

The MNRE was granted around Rs 11,000 crore during the 11th Plan period. However, a parliamentary panel found disparities between targets set and those achieved and came down heavily on the ministry for its lacklustre performance. To overcome such disparities, the ministry has decided to follow a transparent regime this year, a government source said.

“Our focus will be to frame different schemes and components so that the funds do not get surrendered. The money will be diverted to component, which can act as the growth catalyst.”