Tax exemption up to 500 KVs for industries having captive generation: DKS

BENGALURU: Energy minister D K Shivakumar on Monday said the department has decided to extend the tax exemption upto 500 KVs for industries having captive generation of power.
“There was a long standing demand from various commerce chambers and the industrial areas to extend the tax exemptions upto 500 Kv from the present 250 Kv, for those having captive generation.We have agreed to it and ensure the move will encourage the industries to fair better,” he said.
On the demand side of the power, Shivakumar said the State was able to meet the needs of the people. “We have no problems as of now, with the 1,000MW medium term tender which is being finalised and will be available by June. The coal stocks are also quite sufficient, as a result the power situation in the State is fairly good, barring the water crisis,” he said.
He said the government policy of encouraging the use of LED bulbs will pay dvidends with as much as 83 lakh bulbs already being distributed.
“Barring this, the demand for agriculture and IP sets have also come down due to the lack of water. As far as our understanding goes, while it may hit the food production with 50 per cent of sugarcane crops being lost due to lack of water, it will give us sufficient breathing space on the power situation,” he said.