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Companies that comply with environmental norms may soon receive fiscal incentives, while those who flout them would be penalised.
The Environment Minister, Mr Jairam Ramesh, has sought fiscal incentives in the forthcoming Budget for rewarding companies that follow environmental norms. “I have written to the Finance Minister on the need to have a fiscal incentive system to reward good environmental performance,” he said. At present there is no incentive for those who comply, while those who flout the norms are hardly ever penalised.
“We will have something in the Budget that will send the right signals,” Mr Ramesh said, stating that it could be either tax breaks or something else, the details of which have not been worked out. His comment assumes significance as compliance to environmental norms has become a major issue with clearances to several large projects getting stalled in recent months. On clearance to Posco steel plant in Orissa, Mr Ramesh said a decision would be taken by end-January. On Lavasa, Mr Ramesh said “We are for an amicable solution.”
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