Electric vehicles to save $60 bn in fuel costs by 2030: Niti
The Dollar Business Bureau Niti Aayog CEO Amitabh Kant is taking no chance in promoting the adoption of electric vehicles (EVs). With oil prices perennially increasing, awareness about ecology and atmosphere being discussed and steps being taken to implement clean energy drive, he says India faces the challenge of not wasting anymore time in adopting measures that would reduce the dependence on diesel and petrol. In its annual report, India Leaps Ahead: Transformative Mobility Solution, NITI Aayog and Rock Mountain Institute specify that, “Accelerated adoption of electric and shared vehicles could save $60 billion in diesel and petrol costs while cutting down as much as 1 gigatonne (GT) of carbon emissions for India by 2030.” It estimates that the country could save ...
Top Adani official meets Punjab CM to discuss investment opportunities in the state
PTI A top Adani Group official today met Chief Minister Captain Amarinder Singh and evinced interest in expanding investments in Punjab. President and chairman of several key companies of the Gujarat-based group, Pranav V Adani, met Chief Minister Captain Amarinder Singh here today to discuss possible areas of investment in Punjab. The Group already runs a solar power generation unit in Bhatinda in Punjab and has expressed interest in expanding presence in the state to several other important areas of progress and development, an official spokesperson said after the meeting. The Chief Minister invited Adani to share a brief on the various possible areas of cooperation with the state. Captain Amarinder Singh welcomed the possibility of greater investment by the Group in ...
Indias auto exports down 9.7% in Q1 2016-17
The Dollar Business Bureau India’s overall auto exports fell 9.7% in the first quarter of the current fiscal due to a significant decline in demand in some of the country’s core automobile markets. The sales of three-wheeler segment witnessed the maximum decline, as it shrank by 46.22% to almost 66 thousand units compared to over 122 thousand units in the same period a year ago. The two-wheeler exports, too, contracted by 8.3% to over 577 thousand units during April-June 2016-17 from almost 623 thousand units in the same period a year ago. "The main reason for the decline has been that our main market Europe saw pressure and we are now moving to new markets like South Africa and Latin America," said Vishnu Mathur, Director ...
H-Energy gets nod to lay a 635 km gas pipeline
The Dollar Business Bureau H-Energy Pvt Ltd (HEPL), the energy arm of Hiranandani Group, has been provided the rights by the Petroleum and Natural Gas Regulatory Board (PNGRB) for laying gas pipeline of 635 km between Jaigarh in Maharashtra and Mangalore in Karnataka. The pipeline will link Jaigarh in Maharashtra’s Ratnagiri district, Panjim in Goa, Karwar in Uttara Kannada district and Udupi district in Karnataka before ending at Mangalore. “The entity is allowed a maximum period of 36 months from the date of issue of the authorisation letter for commissioning of the natural gas pipeline project,” the petroleum regulator said in an order. The capacity of the pipeline is to carry 17 million metric standard cubic meters per day (mmscmd) of natural ...
Long-term tax incentives planned to promote clean fuel
It is raining tax incentives for Corporate India. Close to the latest development of the Vodafone tax case where the Government of India did not contest a verdict given in favour of the telecom major by the Bombay High Court on transfer pricing, the Centre is pitching for long-term tax incentives for clean fuel engine manufacturers as well as suppliers of bio-diesel, ethanol and other such fuels. The Dollar Business Bureau "Prime Minister has directed Finance Minister (Arun Jaitley) and me to prepare a policy to promote clean fuel. I have written to FM for tax exemption to manufacturers of clean fuel engines and suppliers of such fuel for five years which can be extended to another five years," said Nitin ...
