25 Mar '12, 11pm

India backs clean energy with new wave of tax breaks

India's latest budget includes souped up subsidies and tax breaks for clean energy in a bid to boost the country's economy. While the emerging superpower is expecting 6.9 per cent GDP growth between 2011 and 2012 this would represent a significant drop on the 8.4 per cent growth the country experienced over the previous two financial years. FURTHER READING Green Budget 2012 - All the latest India leads the world in cleantech investment growth As a result budget documents reveal the government's intention to launch the Twelfth Five Year Plan later this year with the aim of "faster, sustainable and more inclusive growth". Finance minister Pranab Mukherjee said that under the plan India would exempt clean energy technologies such as solar equipment from taxes as part of a package designed to boost infrastructure spending. "In order to fully realise our potential in the realm ...

Full article: http://www.businessgreen.com/bg/news/2163348/india-backs-...

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