India offers breaks to power VC

Investors in the India Power Fund may get tax breaks under a plan floated by the Power Ministry, according to The Economic Times. Under the proposal, up to 20% of contributions to the fund would be safe from income taxes for five years. The Power Finance Corporation Ltd. In India plans to establish the venture capital fund in the first quarter of 2007; it is to be used to help finance the build-out of power plants that generate electricity.