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BW Businessworld

Funds Announced For...

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Presenting the Union Budget 2009-10, Finance Minister Pranab Mukherjee said, "Necessary funds are proposed to be allocated for the missions that are being launched following the NAPCC unveiled last year."

The exact amount will be notified later.

Stressing that mitigation and adaptation remain a major focus area, Mukherjee said the missions represent a multi-pronged, long-term and integrated approach to tackle the menace.

"The NAPCC outlines our strategy to adapt to climate change and enhance the ecological sustainability of our development path," he added.

In yet another environment-friendly measure, the government has reduced basic custom duty on green fuel also known as bio-diesel fuel from 7.5 per cent to 2.5 per cent at par with petrol-diesel.

"Also bio-diesel obtained from vegetable oils and used for blending with petrol-diesel is currently exempted from excise duty.

"I now propose to fully exempt petrol-diesel blended with bio-diesel from excise duty," Mukherjee said hoping that the announcement would bring smile on the faces of the green brigade.


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