Biomass sector pleads for priority sector lending, waiver in MAT

Biomass power generators with a total generation capacity of 1,250 MW across the country has appealed to the Centre to treat them as an extension of agricultural activity and provide priority sector lending. Further, at least 2% interest subvention be provided to the sector, which has invested till date Rs 7,000 crore for current generation capacity, considering the investment done in difficult backward rural areas with high risk perception.

Indian Biomass Power Association (IBPA), a representative body of these generators, in its pre-budget memorandum submitted to the finance ministry has sought waiver in Minimum Alternate Tax (MAT) for the period of next 10 years or date of commissioning, whichever is later.

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