The Cabinet Committee on Economic Affairs today approved the constitution of a National Clean Energy Fund (NCEF) along with guidelines and modalities for approval of projects to be eligible for financing under this fund.
The fund was set up to serve as a separate non-lapsable corpus for funding green energy projects with the broader objective of cutting down India’s carbon footprint. An inter-ministerial group has been constituted to approve the projects or schemes eligible for financing.
NCEF will be used for funding research and innovative projects in clean energy technologies. Government assistance under it will not exceed 40 per cent of the total project cost.
The inter-ministerial group will design a standard format for submission and evaluation of the projects. There will be a time frame specified under the scheme for processing of applications at each stage. The group will identify or appoint appropriate professional agencies to monitor the progress of NCEF-funded projects.
NATIONAL WATER MISSION
The Union Cabinet also approved the comprehensive document for the National Water Mission drafted by the Ministry of Water Resources. The National Water Mission is one of the eight national missions which form the core of the National Action Plan for Climate Change. The objective of the mission is conservation of water, minimising wastage and ensuring its equitable distribution both across and within states through integrated water resources development and management.
