Home » Govt approves Rs.5,000 cr tax-free bonds

Govt approves Rs.5,000 cr tax-free bonds

Power & New and Renewable Energy
June 1, 2015June 1, 2015
Govt approves Rs.5,000 cr tax-free bonds
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The ministry of new and renewable energy (MNRE) has approved the sale of tax free-bonds worth Rs 5,000 crore to support the government´s solar mission, announced Tarun Kapoor, MNRE Joint Secretary. Of this, IREDA is likely to raise Rs 2,000 crore fund through an issue of tax-free bonds to be lent to solar energy developers at a lower interest rate of 10.5 per cent. State-run NTPC Ltd is also soon expected to issue tenders for solar power projects of 15,000 megawatts.

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