Under the scheme, the government will provide financial incentives for each electric vehicle sold in India during the remaining part of the 11th Plan.
Indian Oil Corporation (IOC), the nation's largest oil firm, has renewed a deal to buy up to 2 million tonnes of crude oil in 2022 from Russia's Rosneft, the Russian oil producer said. IOC had in February 2020 signed a deal with Rosneft Oil Company to import up to 2 million tonnes of oil via the port of Novorossiysk. In 2021, the deal envisaged supply of up to 1.7 million tonnes of crude oil but IOC bought just on parcel or shipload as the cost of transporting the oil made it uneconomical, when compared to alternatives. For 2022, the deal is for the supply of up to 2 million tonnes of oil from the Black Sea port of Novorossiysk.
The Centre could further moderate its divestment target for 2024-25 (FY25), as it does not expect large receipts from asset sales - except some ongoing strategic ones, including IDBI Bank, which could spill over into next financial year. Also, it may drastically reduce its FY24 divestment target of Rs 51,000 crore. "We are still evaluating the Budget estimates for FY25. "New big-ticket asset sales are unlikely.
'In a special gesture, UAE President and Ruler of Abu Dhabi Sheikh Mohamed bin Zayed Al Nahyan, accompanied by senior members of the Royal Family, was at Abu Dhabi airport for the interaction with PM'
Piyush Goyal is leading a delegation to deliberate with Australia.
The move comes at a time when IL&FS Energy has joined hands with SB Energy
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
Russian forces have made minimal progress on land, sea or air in recent days and they continue to suffer heavy losses, the UK's ministry of defence said on Thursday.
In a statement, the ministry of defence said the official winners were picked by panels of judges.
Modi was honoured with the 'Order of Zayed', the UAE's highest civilian award, in 2019 as a mark of appreciation for his efforts to boost bilateral ties between the two nations.
India's Ministry of New and Renewable Energy proposes to develop 60 cities as solar cities.
The Supreme Court order on what to do with the coal blocks allotted to power companies between 1993 and 2013, which it has already termed illegal, is likely on Tuesday.
This is essential to promote investment in essential infrastructure such as Power. Any additional burden will only pass on to the end consumer.
Elections are not won or lost by expounding on such macro-economic matters. For the aam admi, what matters in manifestos are promises that will improve their quality of life, notes Vinayak Chatterjee.
UK's Cairn Energy Plc has offered to forego $500 million and invest that amount in any oil and gas or renewable energy project identified by the Indian government if New Delhi agrees to honour an international arbitration award and returns the value of loss it incurred because of being taxed retrospectively, sources said. The Scottish firm invested in the oil and gas sector in India in 1994 and a decade later it made a huge oil discovery in Rajasthan. In 2006-07, it listed its Indian assets on the BSE. Five years after that the government passed a retroactive tax law and billed Cairn Rs 10,247 crore plus interest and penalty for the reorganisation tied to the flotation.
A day into the Copenhagen climate change meetings, the Union ministry of new and renewable energy has indicated that it has no definite roadmap to implement its ambitious target of 20,000 MW of solar power by 2022.
The two sides held discussions on enhancing investment in technology, renewable energy and food security.
A release issued by the MEA said the meeting was attended by the heads of delegations of Fiji, Republic of Kiribati, Republic of Marshall Islands, Federated States of Micronesia, Republic of Nauru, Republic of Palau, Independent State of Papua New Guinea, The Independent State of Samoa, Solomon Islands, Kingdom of Tonga, Tuvalu and Republic of Vanuatu.
Glass shortage in China and the rising prices of imported glass used in finished solar panels have already hit the cost of solar panel imports. The cost of solar modules imported by India have increased 22 per cent since June last year. India imports close to 90 per cent of its solar cells and modules, of which nearly 80 per cent is from China. Domestic solar equipment makers import glass panels and are the largest suppliers in China. The price of a solar module glass has increased 150 per cent in the past six months, revealed industry estimates.
To boost the sagging sales of electric vehicles, the government on Wednesday approved the extension of the Ministry of New and Renewable Energy (MNRE)'s subsidy scheme to incentivise sales of electric cars and two-wheelers in the country.
'We are planning load shedding in such a way that the entire state will not suffer.'
Funded by the Ministry of Non-Conventional Energy Sources, the 100x2 KW power plant was jointly set up by the village councils of Chizami village and nearby Sumi village with technical assistance from Nagaland Renewable Energy Development Agency.
Prime Minister Narendra Modi on Thursday thanked Qatari Emir Sheikh Tamim bin Hamad Al-Thani for the release of eight Indian nationals, who were sentenced to death after being arrested in Doha in August 2022.
Prime Minister Narendra Modi began his engagements in the US on Thursday by meeting with leading American CEOs from five different key sectors and highlighted the economic opportunities in India.
Solar power is expensive. The cost of generating one unit of solar power is Rs 15 while it costs just Rs 1.19 per unit from coal (at Sasan ultra mega power plant). The Centre, in partnership with state governments, will give incentives worth up to Rs 12 per unit for generating power from solar energy.
Wind power: Zero emission its strength, low plant load factor a weakness, say experts.
The project of deriving ethanol from a seaweed is all set to get a major boost with the Central Salt and Marine Chemical Research Institute deciding to ramp up off-shore production of the weed by manifolds.
Government has announced a slew of measures to give impetus to electric cars.
Sidhu had promised that he would quit politics if his party president lost from Amethi, where he was contesting against Bharatiya Janata Party's Smriti Irani.
Four companies - Rajesh Exports, Hyundai Global Motors Company, Ola Electric Mobility and Reliance New Energy - are eligible for receiving benefits under the production-linked incentive (PLI) scheme for advanced chemistry cell battery storage, the heavy industries ministry said on Thursday. The allotment was made for a total of 50 GWh of battery capacity to the four successful bidders. These firms, the ministry said, will receive incentives under India's Rs 18,100 crore programme to boost local battery cell production.
The Indian economy is expected to return to the pre-crisis growth trajectory of about 9 per cent in a couple of years.
Addressing the nation on Independence Day, the prime minister also spoke on renewable energy and the need to maintain a balance between development and the environment. Referring to the National Clean Air Programme (NCAP), launched in January 2019, Modi said, "A special campaign is being worked out to reduce pollution in 100 selected cities with a holistic approach."
Centre plans to acquire land and then give it on lease to miners.
'The home ministry has made a serious allegation to the media without providing a scrap of evidence to back it up. We think this shows how worried the ministry has become.'
On Monday, a journalist sat through a closed-door meeting between Goyal and state power ministers, in the guise of an event manager.
A total of 16 secretaries have been appointed to various central government departments.
After the talks, it was also announced that India has decided to extend e-Visa facility to Saudi nationals.
The Standing Committee on Emission Regulation - under the Ministry of Shipping, Road Transport & Highways - today approved addition of hydrogen to CNG (compressed natural gas) for use in vehicles. The proposal is to use CNG with 20 per cent hydrogen content.
The mission has proposed pilot projects for replacing fossil fuels and fossil fuel-based feedstocks with Green Hydrogen and its derivatives.
The headline for corporate profit growth has been very encouraging in the July-September quarter (Q2) of 2023-24 (FY24), with the combined net profit of listed companies up by 38 per cent year-on-year. However, the earnings distribution has been very lopsided, with most of the growth coming from public-sector oil-marketing companies (OMCs), banks, non-bank lenders, automobile (auto) companies, and cement producers. By comparison, companies from information technology services, fast-moving consumer goods (FMCG), retail, and consumer durables were disappointed, experiencing a sharp slowdown in net sales growth and a relatively muted increase in reported net profit.
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