“Taxing carbon” and “Pushing solar power” are the two goals of the country’s vision a bit to save the world, from the calamitous effects of the climate change. The government gave a clear indication of this in the Economic survey carried on by Finance Minister, Arun Jaitely in the Parliament on Friday.
Photo: Indian Express
The Government is taking large strides in reducing carbon emissions, one of which is increased the coal cess from Rs 50 per ton to Rs 100 per ton, which is equivalent to a carbon tax of about US$ 1 per ton.increasing the coal cess from Rs. 50 per ton, which is equivalent to carbon tax of about US$ 1 per ton.
The Economic Survey says the move to substantial carbon taxation combined with ambitious solar power program suggests that India can make a substantial contribution to the forthcoming Paris negotiations on climate change.”
Keeping in account of the actions taken by India the Survey said, “India shifted from a carbon subsidization regime to one of carbon taxation, by putting an effective price on emissions. This has significantly increased petrol and diesel price while serving as price signal to reduce fuel burnt and hence carbon dioxide emissions”.
As a result of the drastic reduction of carbon emissions taken in accordance to the petrol and diesel, it has been shown that there will be a net reduction of 11 million tons of CO2 emissions in less than an year. There will be also a rise on the taxes upon the coal.
Also, ahead of the much awaited Modi Government’s budget, the benchmark sensex was in its best form spouting 437.47 points to29,220.12 after the Economic Survey today. It said, “The move to substantial carbon taxation combined with ambitious solar power program suggests that India can make substantial contributions to the forthcoming Paris negotiations on climate change”. increased the coal cess from Rs 50 per ton to Rs 100 per ton, which is equivalent to a carbon tax of about US$ 1 per ton.
Tags: Arun Jaitley Budget 2015 Economic Survey
