TMI BlogCreation of National Clean Energy FundX X X X Extracts X X X X X X X X Extracts X X X X ..... Creation of National Clean Energy Fund - News and Press Release Dated:- 7-4-2011 - News - Press Information Bureau Government of India Ministry of Finance 06-April-2011 19:38 IST Creation of National Clean Energy Fund The CCEA has approved constitution of an 'National Clean Energy Fund' (NCEF) in the public account of India along with the guidelines as well as modalities for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... approval of projects to be funded from the Fund. The Finance Bill 2010-11 provided for creation of a corpus called National Clean Energy Fund to invest in entrepreneurial ventures and research in the field of clean energy technologies. Subsequent to the budget announcement, the Central Board of Excise Customs (CBEC) issued a notification dated June 22, 2010 to notify the Clean Energy Cess Rule ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, 2010. An Inter Ministerial Group (IMG) has been constituted to approve the projects/schemes eligible for financing under the National Clean Energy Fund, consisting of following members: (i) Finance Secretary-Chairperson (ii) Secretary (Expenditure)-Member (iii) Secretary (Revenue)-Member (iv) Representatives from Ministries of Power, Coal, Chemicals Fertilizers, Petroleum Natural ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Gas, New Renewable Energy and Environment Forests. The National Clean Energy Fund will be used for funding research and innovative projects in clean energy technologies. Any project/scheme for innovative methods to adopt to clean energy technology and research development shall be eligible for funding under the NCEF. Such projects may be: (a) Sponsored by a Ministry/Department of the Gov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ernment; and (b) Submitted by individual/ consortium of organizations in the government/public sector/private sector in the form of loan or viability gap funding, as the IMG deems fit on case to case basis. Government assistance under the NCEF shall in no case exceed 40% of the total project cost. A standard format for submission and evaluation of projects shall be designed by the IMG to recei ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve proposals from various ministries of Government of India. Proposals for loan or viability gap funding by Individuals/ consortiums are to be submitted to the concerned Ministry first, which, after due consideration, shall place them before the IMG. The IMG may seek the views of technical experts from related organizations and individuals of repute in the area of clean energy to review, evaluat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e and recommend projects. There will be a time frame specified under the scheme for processing of applications at each stage. The IMG will identify/appoint appropriate professional agencies to monitor progress of NCEF funded projects. *** AD/SB/SKS - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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