India doubles tax on coal, to raise $1 billion clean energy funds every year

Climate Connect News, 14 July 2014, New Delhi: India has doubled the tax on coal consumed to Rs 100 ($1.67) per metric ton to increase the revenue raised for the National Clean Energy Fund, the Finance Minister announced last week. The minister also announced the fund would now also be used for research and development and implementation of environmental projects. 

The coal cess of Rs 50 per metric ton of gross quantity of raw coal, lignite or peat raised and dispatched from a coal mine was implemented on 01 July 2010. The cess was also levied on imported coal as excise duty. Thus all coal mined in India and imported is covered under the coal cess.....

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