Existing Framework and Operation of NCEF: A Review
Objective of this chapter was to critically review the existing framework of NCEF, including its structure and proposed mode of administration, and identify the key gaps. The scope of this exercise has been limited by the identified objectives of the NCEF.
Existing Framework of NCEF
Subsequent to the announcement of setting up of NCEF, the Central Board of Excise and Customs (CBEC) issued a notification dated 22 June 2010 (CBEC 2010) to notify the Clean Energy Cess Rules, 2010.1 In 2011, the Cabinet Committee on Economic Affairs (CCEA) approved the constitution of the NCEF under the Public Accounts of India along with the guidelines and modalities for approval of projects to be funded from the Fund.
The Fund has been set up to serve as a separate non-lapsable corpus. Plan Finance II Division of the Department of Expenditure, Ministry of Finance (MoF), Government of India, is the nodal agency for administering the Fund and has drafted the Cabinet note outlining the framework of the...
KeywordsCoal Mine Carbon Capture Clean Energy Planning Commission Funding Mechanism
- CBGA (2012) Centre for Budget and Governance Accountability. Available at http://www.cbgaindia.org
- Central Board of Excise and Customs (2010) Notification on creation of national clean energy fund. http://pib.nic.in/newsite/erelease.aspx?relid=71517
- Ministry of Finance (2011a) Office memorandum 18 Apr 2011. Available at http://finmin.nic.in/the_ministry/dept_expenditure/plan_finance2/Guidelines_proj_NCEF.pdf. Last accessed 6 May 2013
- Ministry of Finance (2011b) Office memorandum 16 Jun 2011. Available at http://finmin.nic.in/the_ministry/dept_expenditure/plan_finance2/Format_Forwarding_NCEF_IMGC.pdf. Last accessed 6 May 2013
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