CCEA clears changes to Mega Power Policy: also hikes minimum support price of jute.

The Cabinet Committee on Economic Affairs recently cleared amendments to the Mega Power Policy, benefits of which can be availed by the generation firms only after fulfilling certain mandatory conditions.

'The developer must tie up at least 65 per cent of installed capacity through competitive bidding,' said finance minister P Chidambaram. The remaining 35 per cent of installed capacity should be through the regulated tariff according to the host state's policy. Thermal power projects of 1,000 MW and above, capacity and hydro power projects of 500 MW and above are allowed duty-free equipment imports.

The CCEA also cleared increase in minimum support price (MSP) of jute by Rs. 100 to Rs. 2,400 per quintal for 2014-15 season. 'Jute MSP of TD-5 variety has been increased by Rs. 100 per quintal,' said Chidambaram.

ET