 New
Delhi: A bill to provide a legal framework for the
reform and restructuring of the power sector is likely
to be placed in Parliament soon, says Finance Minister
Jaswant Singh.
The
Electricity Bill, 2001, was introduced in the Lok Sabha
in August 2001 and subsequently referred to the Standing
Committee on Energy for examination. The report of this
committee has been received, Singh adds.
To
encourage further capacity addition in the sector, the
budget has proposed the further liberalisation of the
mega power project policy by extending its benefits to
any power project that fulfils the conditions already
prescribed for mega power projects.
In
1999, the government had notified 18 power projects as
mega projects, conferring upon them various duty-and-licensing
benefits.
Given
the importance of transmission in the power sector, the
budget has also proposed a cut in the customs duty on
specific equipment for high-voltage transmission projects
from 25 per cent to 5 per cent.
Singh
has also proposed an allocation of Rs 20 crore to the
Council for Scientific and Industrial Research (CSIR)
to further research in solar energy, wind turbines, and
hydrogen fuel as alternatives to fossil fuels, and for
launching incentive-driven research in these three fields.
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