Budget 2020: Rs 4,400-cr outlay for clean air, old power plants to be shut
Old coal-fired power plants not meeting emission norms will be closed and their land put to alternative use, Finance Minister Nirmala Sitharaman said on Saturday as she provided Rs 4,400 crore in her Budget for measures to ensure clean air. She also announced expansion of PM KUSUM scheme for harnessing solar energy by farmers for achieving diesel-free agriculture eventually.
Besides, the minister indicated in her Budget speech that there would be a new scheme to reduce financial stress of debt-laden power distribution firms and incentives will be provided in form of lower corporate tax for new power projects.
“There are yet, thermal power plants that are old and their carbon emission levels are high. For such power plants, we propose that utilities running them would be advised to close them, if their emission is above the pre-set norms.
