IWPA knocks GoI to reinstate Accelerated Depreciation

Indian wind power association (IWPA) has issued a press release urging Government of India to restore the benefits of Accelerated Depreciation (AD) to wind power producers, which was surprisingly withdrawn in April 2012. IWPA on behalf of small and medium industries have asserted that prior to April 2012, these industries have been setting up wind power mainly for self consumption using AD. Now that the same has been withdrawn MSME segment has submitted its inability to invest in clean energy.

In the press release, IWPA has quoted a study by CRISIL which says that annual wind mill additions in India have come down by 50 % and Govt. of India is loosing more in upfront annual tax collections.

The MSME industry has also said that the introduction of GBI by Govt. of India is not going to help the cause as the very purpose of self consumption stands defeated.

For the official press release click here.