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DEC 19 2014

Clean energy cess mop-up in FY15 nearly doubles to Rs 6,857 crore

  • Economic Times, ET Bureau / Hyderabad
  • Created: Fri 19th DEC 2014

Government has collected Rs 6,857.50 crore in clean energy cess this fiscal, nearly the double the amount it garnered in the previous year.

Finance Minister Arun Jaitley in Budget 2014-15 has raised the cess rate from Rs 50 per tonne to Rs 100 per tonne to promote and finance clean environment initiatives and fund research in this area. The cess is presently levied on coal, peat and lignite.

In a written reply in Lok Sabha, Coal and Power Minister Piyush Goyal said Rs 3,527.75 crore was collected in the last fiscal as clean energy cess. In FY 2013, the amount was Rs 3,053.19 crore, while 2011-12 it was Rs 2,579.55 crore.

The country began imposing clean energy cess on raw coal and lignite in 2010.

Replying to a separate question, the minister said at present Coal Indiahas not initiated any proposal for price hike.

However, CIL may consider revision of the price of coal at a subsequent stage if there is any substantial increase or decrease in the input costs and the inflation indices.

Tags

Finance Coal Coal India Limited Clean Energy Energy Inflation Budget CIL Power

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