India: National Clean Energy Fund

The Finance Bill 2010-11 created the National Clean Energy Fund (“Fund”) to invest in entrepreneurial ventures and research in the field of clean energy technologies. The Fund will be financed through a carbon tax on the coal industry at the rate of Rs. 50.00 (US$ 1.0881)¹ for each metric ton of coal used in India, whether mined in or imported into the country. According to Emergent Ventures, a climate change consulting company, this new tax could help raise about Rs. 25,000,000,000 (US$ 544,069,640.91)².

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1. At 1 US$ = 45.9500 Indian Rupees

2. At 1 US$ = 45.9500 Indian Rupees

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