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Coal India wins tax-cut boost as environmentalists fret

Coal India hopes the lowering of the coal sales tax to 5 percent currently will help it find buyers

Reuters  |  New Delhi 

State-run Coal India Ltd , saddled with millions of tonnes of unsold coal, is expected to be the biggest beneficiary of a controversial government decision to more than halve the sales tax on the fuel after a jump in local supplies. The world's third-largest greenhouse gas emitting country said last Friday it would lower the duty on coal from July 1 and impose a new 18 percent tax on solar cells and modules as part of a broader tax overhaul. The moves are seen as helping boost local sales of the fossil fuel, but hurting the young and booming renewable energy industry. Most ...

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First Published: Thu, May 25 2017. 13:37 IST