India will double the tax on coal production and promote electric vehicles and renewable-energy projects to balance out emissions from coal-fired power plants.
The world’s third-biggest emitter of greenhouse gases will raise the duty on coal to 200 rupees (R37) a ton, Finance Minister Arun Jaitley said in his budget speech on Saturday. The money would be used to promote clean energy, he said, indicating India’s commitment to fighting global warming.
“With regard to coal, there’s a need to find a balance between taxing pollution and the price of power,” Jaitley said. – Bloomberg