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FICCI seeks financial incentives for hydro power projects in India

CTBR Staff Writer Published 13 February 2013

The Federation of Indian Chambers of Commerce and Industry (FICCI) has sought greater financial incentives for hydro power projects in the country.

The federation made the demand in its pre-budget 2013 memorandum submitted to the Finance Ministry and emphasized the need to develop clean energy while ensuring energy security.

FICCI said that the cost associated with the hydropower development must be reduced by expanding the benefits to the construction and material.

The trade body also suggested that the power imports should come under Open Government License (OGL) in order to tap power generation potential in neighboring countries.

The Indian Union Budget 2013-14 will be presented on 28 February 2013.