The finance minister has announced the generation-based incentives for wind-energy projects. The Budget has provided low cost finance for viable renewable energy projects and has anounced a policy on shale gas-based revenue-sharing. The Budget has extended the tax holiday for power plants to March 2014.
Expectation: Financial incentives as well faster clearances for projects. What last year's Budget said: Last year's Budget proposed the extension of the sunset clause by one year for power sector undertakings so that they can be set up on or before March 31, 2013 and claim the 100 percent deduction on profits for 10 years. Additional depreciation of 20 percent in the initial year was proposed to be extended to new assets acquired by power-generation companies.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
