Proposed hydro policy to be sent for cabinet approval soon

The proposed hydro power policy is reportedly at the final stage of preparation and will be sent to the Cabinet for approval. The draft policy aims to provide Rs 16.7 billion to support 40 stalled hydel projects with an aggregate capacity of 11,639 MW, besides classifying these under the renewable energy category. In a similar development, the Associated Chambers of Commerce of India has urged the central government that the engineering, procurement and construction (EPC) contract rate for hydro be categorised under the 5 per cent slab of the goods and services tax (GST). This will ensure that the GST rate for all renewable energy projects is at par.


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