Planning Commission Working Group suggests setting up of Green Fund

The Planning Commission Working Group on Natural Resources has recommended the setting up of a “Green Fund” during the 12^th Plan period,  by imposing 5% forest development tax on sale of forest products and 3% forest conservation tax on sale of petroleum products and coal mining and similar taxes like Eco-Tax in Himachal Pradesh. The sub-group working on Environment has also recommended the introduction of a Goods & Services Tax (GST) regime that is well integrated with environmental tax reforms; to bring about an economy-wide green tax regime.