Government proposes introduction of tax free Vidyut Vikas Patra (VVP)
The government has very ambitious targets for setting up power generation projects under the 11th five year plan. These power generation projects need humungous amounts of capital – some estimates put it at upwards of Rs. 10 Lakh Crores.
To partially raise this amount, the Power Ministry has proposed introduction of Vidyut Vikas Patra (VVP), on the lines of Kisan Vikas Patra (KVP) and National Savings Certificate (NSC).
Vidyut Vikas Patra (VVP) would be tax deductible upto Rs. 50,000, and would have a lock-in of 5 years.
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