TERI for `40L cr green stimulus

New Delhi, Aug. 25: The Energy and Resources Institute (TERI) has proposed to revive the Indian economy by exploiting potential of around `40 lakh crore in clean energy projects over the next 10 year through government policy interventions but with minimum public spending.

TERI has released a discussion paper on ‘A Fiscally Responsible Green Stimulus’ to revive the Indian economy by creating demand and jobs with policy and regulatory interventions using minimal government spending, a TERI statement said. The Green Stimulus proposed by the TERI is about `40 lakh crore (or $540 billion), spread over this decade by 2030.

TERI suggested to incentivise cleaner transport, which has the investment potential of `1.6 lakh crore per annum.

It suggested to subsidise fleet modernisation of existing vehicles to BS-VI, use of electric vehicles and provision of buses for public transport.

The Institute has also pitched for producing renewable energy from agricultural residues which have an investment potential of `22,470 crore per annum.

TERI suggested that the government should announce a commercially viable procurement price for the next five years for briquettes made from crop waste.

It has also asked for creating renewable energy from animal husbandry waste, which has investment potential of `88,000 crore per annum.

The study suggested to introduce a commercially viable feed-in tariff for purchase of electricity generated from animal husbandry waste (excreta from cattle, poultry, pigs, etc.) by power distribution companies.

The institute also says that promoting solar generation in rural India has an investment potential of `27 lakh crore. It made a case for a commercially viable feed-in tariff for purchase of electricity generated from rural areas in the kilowatt range by power distribution companies.

Supporting MSMEs to become more green and competitive has savings potential of `15,000 crore every year.