Page 332 - Low Carbon Development in China and India
P. 332
achieving a low carbon economy, provided the barriers to the growth 3.2
of the MSME sector can be addressed appropriately.
Iron and steel
To supplement R&D in the steel sector, the Government had decided,
in 1997–98, to fund up to INR 150 crore (approx. 25 USD million)
per year from the interest proceeds of the Steel Development Fund
(SDF) for R&D projects in the sector. The Empowered Committee
on R&D under the Chairmanship of Secretary (Steel) under the Steel
Development Fund has so far approved 83 research projects costing
INR 696.27 crore (approx. USD 116 million), including SDF component
of INR 389.63 crore (approx. USD 65 million) of these 47 projects have
been completed. Research results of several R&D projects have already
been implemented by the steel plants, resulting in improvement in
productivity, reduction in energy consumption and pollution (MoS,
2015). In the Eleventh Plan (2007–12), a new scheme for ‘promotion
of Research & Development in Iron and Steel sector’ was included
with a budgetary provision of INR 118.00 crore (approx. USD 19.67
million) for promotion of research & development in the domestic
iron and steel sector. The scheme has been continued in the Twelfth
Five Year Plan with a budgetary provision of INR 200 crore (approx.
USD 33.33 million). Under the scheme, a total of ten (10) R&D projects
have been approved. Total cumulative amount of INR 34.63 crore
(approx. USD 5.77 million) has been released under the scheme up to
December, 2014, during the Twelfth Five-Year Plan.
In BE 2015–16, which is the fourth year of the Twelfth Five-Year
Plan (2012–17) INR 15.00 crore (approx. USD 2.5 million) has been
earmarked for the scheme. For new components, i.e. Development of
Technology for Cold Rolled Grain Oriented (CRGO) Steel Sheets and
other value added innovative steel products a budgetary provision
of INR 1.00 crore (approx. USD 0.16 million) has been provided and
budgetary provision of INR 14.00 crore (approx. USD 2.33 million) has
been provided for new projects under the existing scheme.
Cement
The Indian government has adopted some policy measures to support
and aid the growth of the Indian cement industry. The demand
for cement in India has been influenced mainly by the housing,
infrastructure, and irrigation. The Government of India plans to
increase its investment in infrastructure to USD 1 trillion in the Twelfth
Five-Year Plan (2012–17) as compared to USD 514 billion expected to
Chapter 2 Innovative Financing for Low Carbon Development 297
of the MSME sector can be addressed appropriately.
Iron and steel
To supplement R&D in the steel sector, the Government had decided,
in 1997–98, to fund up to INR 150 crore (approx. 25 USD million)
per year from the interest proceeds of the Steel Development Fund
(SDF) for R&D projects in the sector. The Empowered Committee
on R&D under the Chairmanship of Secretary (Steel) under the Steel
Development Fund has so far approved 83 research projects costing
INR 696.27 crore (approx. USD 116 million), including SDF component
of INR 389.63 crore (approx. USD 65 million) of these 47 projects have
been completed. Research results of several R&D projects have already
been implemented by the steel plants, resulting in improvement in
productivity, reduction in energy consumption and pollution (MoS,
2015). In the Eleventh Plan (2007–12), a new scheme for ‘promotion
of Research & Development in Iron and Steel sector’ was included
with a budgetary provision of INR 118.00 crore (approx. USD 19.67
million) for promotion of research & development in the domestic
iron and steel sector. The scheme has been continued in the Twelfth
Five Year Plan with a budgetary provision of INR 200 crore (approx.
USD 33.33 million). Under the scheme, a total of ten (10) R&D projects
have been approved. Total cumulative amount of INR 34.63 crore
(approx. USD 5.77 million) has been released under the scheme up to
December, 2014, during the Twelfth Five-Year Plan.
In BE 2015–16, which is the fourth year of the Twelfth Five-Year
Plan (2012–17) INR 15.00 crore (approx. USD 2.5 million) has been
earmarked for the scheme. For new components, i.e. Development of
Technology for Cold Rolled Grain Oriented (CRGO) Steel Sheets and
other value added innovative steel products a budgetary provision
of INR 1.00 crore (approx. USD 0.16 million) has been provided and
budgetary provision of INR 14.00 crore (approx. USD 2.33 million) has
been provided for new projects under the existing scheme.
Cement
The Indian government has adopted some policy measures to support
and aid the growth of the Indian cement industry. The demand
for cement in India has been influenced mainly by the housing,
infrastructure, and irrigation. The Government of India plans to
increase its investment in infrastructure to USD 1 trillion in the Twelfth
Five-Year Plan (2012–17) as compared to USD 514 billion expected to
Chapter 2 Innovative Financing for Low Carbon Development 297
