India’s Ministry for New and Renewable Energy (MNRE) is to have its budget for the coming year slashed. For the financial year of 2014-15 the MNRE has been budgeted INR441
crore (US$72 million). In the last financial year, the MNRE was provided
a budget of INR1,500 crore for renewable energy initiatives (US$246
million), but only ended up disbursing INR426 crore (US$69 million) of
that by the end of the financial year.
According to analyst firm, Bridge to India the finance ministry has
taken the disbursement level for 2013-14 as a starting point for the
forthcoming year and offered MNRE a much lower allocation. Climate Parliament, a cross-party group of India’s pro renewables
politicians, said there was “a significant gap between allocation and
reality” in MNRE’s budget last year.
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