LIVE MARKET TRACKER :   BSE SENSEX        |    NSE NIFTY    
GLOBAL MARKETS :  NASDAQ      |    FSI London      |    NIKKEI Japan  
  USD GBP EUR CAD AUD INR
USD -
GBP -
EUR -
CAD -
AUD -
INR -
Indian-Commodity  :  Economy  :  Govt to bring new bio-fuel policy to cut oil, gas imports: Pradhan

Govt to bring new bio-fuel policy to cut oil, gas imports: Pradhan (11-Aug-2017)

Minister of State for Petroleum and Natural Gas Dharmendra Pradhan has said that the government is planning to bring a new bio-fuel policy for encouraging its use in transport fuel that will catalyse Rs 1 lakh crore of investment in the entire value chain. He also noted that this will be in line with the government's commitment to cut down emission and bring down the overall oil import bill.

The Petroleum Minister has pointed out that India imports 80 percent of its crude oil needs and use of biofuel extracted from non-edible oils will help meet the target of reducing imports by 10 percent by 2022. He also said that India's top three state-owned oil companies have committed approximately $2 billion investment in research and development (R&D) on biofuels. He added that they will soon take to the Cabinet a biofuel policy that will provide for investment climate, incentives, government role and commercial returns for developers.

Adding further, Pradhan said that the new policy will help develop a biofuel economy worth Rs 1 lakh crore in the next two years. He also said that the government has already asked state oil companies to set up ethanol plants at 12 locations over the coming year. He noted that promoting biofuels creates jobs, fosters economic growth, supports farmers and helps improve energy security for the country. He added that ways are being explored on conversion of urban, rural waste to fuel and use of waste/barren lands for cultivation of feedstock for 2G biofuels.


Top News Today
Future Enterprises gets nod to raise funds up to Rs 1,500 crore
(26-May-2018)

Future Enterprises gets nod to raise funds up to Rs 1,500 croreFuture Enterprises has received its board's approval to raise funds by issue of Secured Redeemable Non-Convertible Debentures (NCDs) for a value up to Rs 1,500 crore in one or more tranches within a period......click on news to read complete article.

IFCI recovers Rs 280 crore from Bhushan Steel
(26-May-2018)

IFCI recovers Rs 280 crore from Bhushan SteelIFCI has recovered Rs 280 crore from debt-ridden Bhushan Steel under the insolvency process. The company also received over 5.79 lakh equity shares of Bhushan Steel, having face value of Rs 2 per share.IFCI......click on news to read complete article.

Sun Pharma reports 7% rise in Q4 consolidated net profit
(26-May-2018)

Sun Pharma reports 7% rise in Q4 consolidated net profitSun Pharmaceutical Industries has reported results for the fourth quarter and year ended March 31, 2018.The company has reported a rise of 83.30% in its net profit at Rs 176.26 crore for the quarter ended......click on news to read complete article.

International Stock News
US markets end mostly in red on Friday
(26-May-2018)

US markets end mostly in red on FridayThe US markets ended the choppy day of trade mostly in red terrain as some traders were away from their desks, looking to get a head start on the long Memorial Day weekend. Geopolitical uncertainty also......click on news to read complete article.

US markets end mostly in red on Friday
(26-May-2018)

US markets end mostly in red on FridayThe US markets ended the choppy day of trade mostly in red terrain as some traders were away from their desks, looking to get a head start on the long Memorial Day weekend. Geopolitical uncertainty also......click on news to read complete article.

US markets end lower on Thursday
(25-May-2018)

US markets end lower on ThursdayThe US markets ended in red terrain on Thursday, as geopolitical worries hovered over markets after Trump called off the summit that was set to take place June 12 in Singapore. The cancellation followed......click on news to read complete article.

 

     
  
Recent Economy News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.