More incentives to renewable energy sector: Farooq Abdullah

September 13th, 2012 - 8:55 pm ICT by IANS  

New Delhi, Sep 13 (IANS) Generation-based incentives and depreciation allowance to incentivise generation of power from new and renewable sources will be at the top of the 12th Plan agenda (2012-17), New and Renewable Energy Minister Farooq Abdullah said Thursday.

Speaking at the India Carbon Market Conclave held here, Abdullah said: “The provision for the inclusion of these incentives has been discussed with the Planning Commission.”

“I have requested the planners to offer these for a larger period of eight years rather than five that was given during the 11th Plan,” he said.

The minister expressed confidence that the National Development Council which is to meet soon would put its stamp of approval to the ministry’s proposals.

Abdullah also cautioned domestic industry against the import of cheap, low quality technology.

He underlined the need to acquire the state-of-the-art equipment and technology from the US and Europe and also urged the Indian industry to beef up their manufacturing capabilities and capacities.

Asked whether India would be able to offer power to Pakistan as was being talked about in recent India-Pakistan peace talks, Abdullah said: “Although India is deficient in power and our needs are growing at a rapid pace, sometimes, in the interest of building and maintaining good neighbourly relations, such gestures have to be made.”

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