Coal news and updates

India mops up Rs 9,160 cr clean energy cess in 3 yrs

December 18: A total of Rs 9,160.49 crore was collected by the government through Clean Energy Cess during between 2011-12 and 2013-14 to finance and promote clean initiatives in the country, an official release said.

The government expects to collect a total of about Rs 6,857.50 crore through the cess in 2014-15, the release added.

The Clean Energy Cess is levied as a duty of excise under Section 83(3) of the Finance Act, 2010 at a rate of Rs 100 per ton of coal, lignite and peat (goods specified in the 10th schedule to the Finance Act).

The cess is levied to finance and promote clean initiatives, funding research in the area of clean energy or for any other purpose. The projects aiming at reduction of emissions with innovative technologies from different sectors get considered under this funding mechanism.

The amount of Clean Energy Cess collection/accrued in the last three years and current year are furnished in the table below: