Skip to content
Climate Change Laws of the World logo globeClimate Change Laws of the World logo text

Finance Bill 2010

2010MitigationLegislativeLawMore details
Sectors: Energy
The Finance Bill 2010-11 provided for the creation of a corpus called the National Clean Energy Fund, to invest in entrepreneurial ventures and research in the field of clean energy technologies. Subsequent to the budget announcement, the Central Board of Excise & Customs (CBEC) issued a notification dated June 22, 2010 to notify the Clean Energy Cess Rules, 2010. The cabinet Committee on Economic Affairs has approved constitution of a 'National Clean Energy Fund' (NCEF) in the public account of India along with the guidelines as well as modalities for approval of projects to be funded from the Fund. An Inter Ministerial Group has been constituted to approve the projects/schemes eligible for financing under the National Clean Energy Fund, headed by the Finance Secretary and including representatives from Ministries of Power, Coal, Chemicals & Fertilizers, Petroleum & Natural Gas, New & Renewable Energy and Environment & Forests. The National Clean Energy Fund will be used for funding research and innovative projects in clean energy technologies. Any project/scheme for innovative methods to adopt to clean energy technology and research & development shall be eligible for funding under the NCEF. Projects may be government sponsored or submitted by the private or public sector. Projects may take the form of loan or viability gap funding. Government assistance under the NCEF shall in no case exceed 40% of the total project cost. The IMG will identify/appoint appropriate professional agencies to monitor progress of NCEF funded projects.

Main document

Finance Bill 2010
PDF

Timeline

Show

Note

CCLW national policies

The summary of this document was written by researchers at the Grantham Research Institute . If you want to use this summary, please check terms of use for citation and licensing of third party data.