GST reform an important step toward climate goals of India: Center

New -Delhi, September 16 (IANS). According to information given by the central government on Tuesday, GST reform is an important step towards the climate goals of India by making renewable energy, waste management, bio -breakdown products and green mobility more economical and accessible. Cost reduction will accelerate the adoption of the adoption of pollution control solutions by encouraging domestic manufacturing and supporting sustainable industries. The GST rate on solar and wind equipment has been reduced from 12 percent to 5 percent. These appliances include solar boom, biogas plant, solar -based equipment, solar generator, windmill, wind electricity generators, vest to energy plant and appliances, solar lanterns / solar lamps, energy devices and plant and photos voltage cells. According to the center, solar panels, PV cell, wind turbines and capital costs of related equipment will fall directly. This cut will increase the viability of solar and wind power projects, which will lower the rates for final consumers. GST rate cuts will promote domestic manufacturing by supporting India’s solar and module manufacturing ecosystem under PLI schemes, making domestic products more competitive than imports. This will make the solar pumps more economic, reduced irrigation costs and help farmers. According to an official statement, the set capacity of solar energy in India has increased by more than 42 times, which increased from 2.82 GW to 119.54 GW in 2011 in 2014. Between 2005 and 2020, India’s GDP (GDP) emission intensity fell by 36 percent. Similarly, the GST rate on waste treatment (CETP) under waste management and pollution control was reduced from 12 percent to 5 percent. The GST rate has now been reduced to 5 percent on services rendered by the common smooth treatment plant. According to the government, tax cuts on CETP industries will inspire to use centralized waste treatment methods, leading to a pollution -free environment and will promote sustainable development in industrial areas. This will help the municipal corporations to implement clean energy solutions for waste management. GST -cuts will create green employment in areas such as waste separation, plant industry and maintenance. The GST rate on bio -breakdown bags is also reduced to 5 percent. It becomes more economically due to reduced GST on biodegradable bags, which encourage consumers and retailers to move away from plastic with one use and thus reduce plastic pollution. -Ians skt/