{"id":3203,"date":"2020-01-10T13:50:30","date_gmt":"2020-01-10T13:50:30","guid":{"rendered":"https:\/\/jobbinghood.com\/finance\/2020\/01\/10\/modi-govts-coal-reforms-continue-now-may-make-coal-cheaper-to-buy-if-finmin-agrees\/"},"modified":"2020-01-10T13:50:30","modified_gmt":"2020-01-10T13:50:30","slug":"modi-govts-coal-reforms-continue-now-may-make-coal-cheaper-to-buy-if-finmin-agrees","status":"publish","type":"post","link":"https:\/\/jobbinghood.com\/magazine\/2020\/01\/10\/modi-govts-coal-reforms-continue-now-may-make-coal-cheaper-to-buy-if-finmin-agrees\/","title":{"rendered":"Modi govt&#8217;s coal reforms continue: Now, may make coal cheaper to buy, if FinMin agrees"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"article-image\">\n<figure><img fetchpriority=\"high\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-1802503 size-full\" src=\"http:\/\/www.financialexpress.com\/wp-content\/plugins\/a3-lazy-load\/assets\/images\/lazy_placeholder.gif\" data-lazy-type=\"image\" data-src=\"https:\/\/images.financialexpress.com\/2019\/12\/coal-4.jpg\" alt=\"coal import, coal import in india, coal import data, coal import data india, make in india, carbon tax, tax on carbon, carbon tax waive off\" width=\"660\" height=\"440\" srcset=\"\" data-srcset=\"https:\/\/images.financialexpress.com\/2019\/12\/coal-4.jpg 660w, https:\/\/images.financialexpress.com\/2019\/12\/coal-4-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/12\/coal-4-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/12\/coal-4-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><noscript><img decoding=\"async\" class=\"wp-image-1802503 size-full\" src=\"https:\/\/images.financialexpress.com\/2019\/12\/coal-4.jpg\" alt=\"coal import, coal import in india, coal import data, coal import data india, make in india, carbon tax, tax on carbon, carbon tax waive off\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2019\/12\/coal-4.jpg 660w, https:\/\/images.financialexpress.com\/2019\/12\/coal-4-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2019\/12\/coal-4-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2019\/12\/coal-4-401x267.jpg 401w\" sizes=\"(max-width: 660px) 100vw, 660px\"\/><\/noscript><span class=\"article-caption\">More than 60% of the power generated in India is still obtained from non-renewable sources, out of which coal has the maximum share.<\/span><\/figure>\n<\/div>\n<p><span style=\"font-weight: 400;\">After allowing commercial mining of coal by private companies to boost domestic production, the <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/narendra-modi\/\" rel=\"noopener noreferrer\">Narendra Modi<\/a>-led government is now focusing on making the coal businesses more economical by making it cheaper to produce and use coal. PMO has asked the Ministry of Finance to consider waiving off carbon tax by $6 per tonne, Reuters reported citing an unidentified government official. Earlier, a PMO note had said that waiving off carbon tax, which amounts to Rs 400 per tonne of coal, would leave more cash in the hands of coal producers to spend more on procuring equipment that can control pollution caused by coal.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">More than 60 per cent of the power generated in India is still obtained from non-renewable sources, out of which coal has the maximum share. Considering this large scale utilisation, it becomes important to seriously watch the environment sustainability while increasing production.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, apart from the recently introduced goal of curbing coal imports by ramping up domestic production, the government also has a flagship target of increasing renewable energy capacity to 175 GW by 2022, which may take a hit by the new perk of waiving off the carbon tax. Fitch Solutions earlier said that the centre\u2019s proposed carbon tax waiver on coal may pose substantial downside risks to India\u2019s renewable sector growth.<\/span><\/p>\n<p><strong>Also Read: <a href=\"https:\/\/www.financialexpress.com\/industry\/modis-175-gw-green-energy-goal-under-threat-from-his-own-govts-proposal\/1814252\/\" target=\"_blank\" rel=\"noopener noreferrer\">Modi\u2019s 175 GW green energy goal under threat from his own govt\u2019s proposal<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">India\u2019s renewable energy businesses have been operating under price pressures due to lower tariff rate and now the increasing profit margin in the coal sector may further hit the motivation in the green energy sector. Traders also fear that the new incentive may boost the momentum of the coal-powered sector that has already occupied 54 per cent of the country\u2019s overall power sector.\u00a0\u00a0<\/span><\/p>\n<p><strong>Also Read: <a href=\"https:\/\/www.financialexpress.com\/economy\/modi-govt-brings-in-private-firms-to-push-make-in-india-allows-commercial-coal-mining\/1816797\/\" target=\"_blank\" rel=\"noopener noreferrer\">Modi govt brings in private firms to push \u2018Make in India\u2019; allows commercial coal mining<\/a><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">Meanwhile, the cabinet has asked <a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/coal-india-ltd-stock-price\/\" rel=\"noopener noreferrer\">Coal India<\/a> Limited (<a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/coal-india-ltd-stock-price\/\" rel=\"noopener noreferrer\">CIL<\/a>) to ramp up production to 1 billion tonnes by 2023-24 for which adequate coal blocks are also being provided. The government earlier said that the move is aimed to curb imports and foster coal availability in the domestic market to boost the \u2018<a target=\"_blank\" href=\"http:\/\/www.financialexpress.com\/tag\/make-in-india\/\" rel=\"noopener noreferrer\">Make in India<\/a>\u2019 scheme.\u00a0<\/span><\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from BSE and NSE and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"http:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\" https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\" https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/><\/p>\n<div class=\"jobbi-after-content-jh-placement jobbi-entity-placement\" id=\"jobbi-1739914695\"><div id=\"jobbi-507542376\"><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-5862940809620110\" crossorigin=\"anonymous\"><\/script><ins class=\"adsbygoogle\" style=\"display:block;\" data-ad-client=\"ca-pub-5862940809620110\" \ndata-ad-slot=\"\" \ndata-ad-format=\"auto\"><\/ins>\n<script> \n(adsbygoogle = window.adsbygoogle || []).push({}); \n<\/script>\n<\/div><\/div>","protected":false},"excerpt":{"rendered":"<p>[ad_1] More than 60% of the power generated in India is still obtained from non-renewable sources, out of which coal has the maximum share. After allowing commercial mining of coal by private companies to boost domestic production, the Narendra Modi-led government is now focusing on making the coal businesses more economical by making it cheaper [&hellip;]<\/p>\n","protected":false},"author":348,"featured_media":3204,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-3203","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry"],"_links":{"self":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/3203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/users\/348"}],"replies":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/comments?post=3203"}],"version-history":[{"count":0,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/posts\/3203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media\/3204"}],"wp:attachment":[{"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/media?parent=3203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/categories?post=3203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jobbinghood.com\/magazine\/wp-json\/wp\/v2\/tags?post=3203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}