Economy

Budget 2020: Power plants with emissions above prescribed limits to be closed

PTI New Delhi | Updated on February 01, 2020 Published on February 01, 2020

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Power plants with emissions above prescribed limits will be asked to close down, Finance Minister Nirmala Sitharaman said on Saturday.

Presenting the Budget for 2020-21, she said India’s commitment towards tackling climate change made at Paris conference kick starts from January 1, 2021.

She said Rs 4,400 crore has been allocated for states that work towards clean air.

The Finance Minister also said PM KUSUM scheme will be expanded to help 2 million farmers in setting up standalone solar pumps.

Sitharaman said that the concessional corporate tax rate of 15 per cent will be extended to new power generation companies. She also said that existing power plants that do not meet prescribed emission norms will be asked to close down and their land be used for alternative purposes.

Published on February 01, 2020
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