Against the budget of Rs. 513.28 crore allocated by Ministry of New and Renewable Energy for research and development (R&D) of new and renewable energy technology, a total expenditure of Rs. 435.95 crore was incurred during the last three years and the current year. This was stated by Sh. Piyush Goyal, Minister of State (IC) for Power, Coal & New and Renewable Energy in a written reply to a question in the Rajya Sabha today.
Year wise and subject-wise budget allocated and expenditure incurred is given below:-
|Subject Area||Year-wise expenditure(release) in Rs.(crores)|
|2012-13||2013-14||2014-15||2015-16(up to Feb2016)|
|Funds Allocated||Expenditure||Funds Allocated||Expenditure||Funds Allocated||Expenditure||Funds Allocated||Expenditure|
|2.||Biogas R&D/Biogas Bottling||2.00||1.42||3.00||3.20||10.00||8.02||1.00||0.86|
|4.||Hydrogen and Fuel Cells||20.00||12.35||2.00||15.85||19.00||10.80||5.90||2.80|
Total Funds Allocated – Rs. 513.28 crore
Total Expenditure – Rs. 435.95 crore
The Ministry of New and Renewable Energy released Central Financial Assistance including subsidy totalling Rs.8293.31 crore during the last three years and the current year for promoting new and renewable energy.
The Minister further stated that details of step taken to promote use of renewable energy among public include the government policy initiatives involving R&D, academic, industry and financial institutions for technology demonstration, training, resource assessment, publicity and awareness. Other steps taken to give impetus to use of renewable energy, include, providing various fiscal and financial incentives, such as capital/interest subsidy, generation based incentives, accelerated depreciation, concessional excise and customs duties, preferential tariff for purchase of power generated from renewable sources. A separate financing institution, namely, the Indian Renewable Energy Development Agency (IREDA) has been set up as a public sector undertaking for market development and financing of renewable energy projects. In addition, the Ministry organized the Global Renewable Energy Investors Promotion Meet (RE-INVEST 2015) on 15-17th February 2015 at New Delhi as an attempt exploring proliferating public/private sector investment to give boost to use of renewable energy.
RM/RS– USQ1818– RS