If the government decides to allocate gas to new projects before the existing ones, the move may seriously impact state-run NTPC's gas-based capacity addition plans
The government is believed to be in the final stages of formulating a gas allocation policy, which is likely to give preference to new power plants over expansion projects, reports PTI.
"The (gas linkage) policy may be broadly based on the coal linkage policy," a power ministry official said.
As per the coal linkage policy, first priority is accorded to power projects of the central sector PSUs like NTPC, state sector utilities like APGENCO (Andhra Pradesh Generation Company) and projects to be bid out by states on tariff-based competitive bidding, followed by independent power projects (IPPs) and captive power plants.
In the new policy, which is likely to be called the Gas Linkage Policy, the government is mulling the option of giving preference in allotment to greenfield (new) power projects over brownfield (expansion).
"May be new projects are given priority over the existing ones in the gas policy," he said, adding that the modalities of the policy are being worked out.
If the government decides to allocate gas to the new projects before the existing ones, the move may seriously impact state-run NTPC's gas-based capacity addition plans.
NTPC had earlier said it would request the power ministry to take its proposal for the allotment of 30 million metric standard cubic metres per day (mmscmd) of gas for its expansion projects, forward to the oil ministry.
NTPC, currently, has a gas-based power generation capacity of about 4,000 MW and the company requires additional gas for its expansion projects, other than Kawas and Gandhar in Gujarat.
The power utility is fighting a case with the Mukesh Ambani-led Reliance Industries (RIL) in the Bombay High Court for gas supply to its Gujarat projects.
"India stands to gain the maximum from the carbon-budget approach because we are creditors and we have not used carbon space, the Union environment minister said
India will take up a leadership role on the issues of global carbon budget and seek support from various countries in equitable access to atmospheric space in the run up to the Cancun climate change meet, according to Union environment minister Jairam Ramesh, reports PTI.
India cannot and will not accept any agreement which does not have its fundamental principle of "equity and equitable access to global atmospheric space," he said at the two-day conference on 'Global Carbon Budgets and Equity in Climate Change,' at the Tata Institute of Social Sciences (TISS) in Mumbai.
"In the next six months in the run-up to Cancun, India will take the leadership role on the issue of a global carbon budget," Mr Ramesh said.
Our strategy must also be based on both per capita emission principle along with per capita income, which are "constituent elements of equity strategy," he stressed.
"We have strong support from China, Brazil, South Africa and when I reach Rome today, I will be talking to German and French leaders too to gain more support on equity and equitable access to global atmospheric space," he said.
"This is a matter of survival for us and when we talk about equity, we talk about development," he said adding, "We are arguing for international equity and at the same time, personally I believe that it is the responsibility of the government of India to ensure domestic equity also."
Mr Ramesh said India will be a great beneficiary if the global carbon budget principle is accepted as the country is a late comer in high growth plane.
"India stands to gain maximum from the carbon budget approach because we are creditors and we have not used carbon space, which has been quantified by a German think-tank publication," he said.
In his key-note address, executive director of South Centre from Geneva Martin Khor agreed with the Indian stand on equitable access to atmospheric space in carbon budgeting at the forthcoming negotiating tables in Brazil and Cancun.
Mr Khor, however, said India has to stress on the operationalisation, based strongly on scientific inputs in terms of technology and finance.
T Jayaraman of the TISS presented his paper on 'Global Carbon Budgets and Burden Sharing Regimes,' which will be taken for debate for the next two days.
Meanwhile, the environment ministry is collaborating with TISS on this project, called for more such academic centres to participate on bringing about new ideas which may be different from conventional thinking.
"Opportunities must be provided for the government with new ideas by the academic and research analysts, and the government will support such efforts," he added.
Investors have an option to donate half or full dividend from this fund to the Indian Cancer Society, a non-profit organisation which provides financial support to needy cancer patients
Want to mix some charity with growing your wealth? Look at HDFC Cancer Fund. HDFC Mutual Fund filed its draft offer document with the regulator for its three year close-ended income fund called 'HDFC Cancer Fund' (HCCF), a first of its kind initiative by a fund house, on 23 June 2010. The scheme will be launched in association with the Indian Cancer Society.
The scheme aims to protect capital and seeks to generate income by investing in debt and money market instruments and government securities. The scheme will invest 60% in debt and 40% in government securities. The units of the scheme will be listed on the National Stock Exchange (NSE).
The dividend proceeds will be donated to the Indian Cancer Society (ICS). Investors have an option to either donate 50% or the entire dividend (100%) to ICS subject to any tax at source. The investors are eligible for tax deduction under Section 80 G of the Income-Tax Act, 1961. The scheme comes with only dividend option. The dividends will be declared on a half-yearly basis. The fund does not carry an exit load.
The proceeds will be utilised by ICS to fund treatment of underprivileged cancer patients and to provide food and nutritional support. HDFC and ICS have jointly set up a governing advisory council (GAC), which will be entrusted with overseeing and directing the proceeds towards this cause. The members will consist of experts from the medical fraternity like Nihal Kaviratne, Keki Dadiseth, Homi Khusrokhan, Ajit Nimbalkar, MK Sharma, Dr Rustom Soonawala, Dr Rajendra Badwe, Dr Anita Borges, and Milind Barve. Besides, Dr Arun Kurkure and Smita Agarwal will also be permanent invitees to this group. This committee will approve utilisation and distribution of funds and appoint auditors for auditing and supervision of funds.
Rating agency CRISIL has assigned 'AAA' rating to this fund which is benchmarked against the CRISIL Short-term Bond Fund Index.
HDFC Mutual Fund has a corpus of Rs1,01,863 crore of average assets under management (AUM) as on May 2010.
ICS was set up in 1951 by Dr DJ Jussawala and Naval Tata, and is the national anti-cancer association of India. ICS is a member of the World Health Organisation's International Expert Committee on cancer and represents India in the general assembly of the International Cancer Union. ICS helps needy cancer patients by offering food, medicine, transport, prostheses, colostomy bags, counselling, social welfare and job-placement services.
ICS presently has an all-India expense budget of Rs4.5 crore annually, of which Rs2 crore is funded through donations. Medical relief for the poor accounts for only Rs15 lakh due to budget constraints.