MoEF plans to approach union cabinet to secure at least Rs 23,000 crore during current plan period to sustain the project
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Green India Mission, the Rs 46,000-crore ambitious project meant to increase the country’s forest cover, is struggling to keep itself rolling due to fund crunch. The ministry of environment and forests (MoEF) is planning to approach the union cabinet soon to secure at least Rs 23,000 crore during the current plan period to sustain the project.

This is one battle where India has an upper hand over China. India was responsible for only eight per cent increase of the global energy-related carbon dioxide emission in 2000-10, while China represented 68 per cent, according to a Climate Policy Initiative (CPI) report.

"Though India is better placed, it needs some real policy level intervention from the government. It should focus more on renewable space," said David Nelson, senior director, CPI. However, the report adds that in India, as with China, most new power generation since 2000 came from conventional sources, though the past decade saw exponential growth in renewable energy generation. During the 10 years from 2000, India's wind energy capacity grew by 1,250 per cent.

The Rangarajan committee report was facing flak from the finance, power and fertiliser ministries over its recommendations on pricing

The fate of the Rangarajan Committee's recommendations is hanging in the balance after the postponement of a meeting of empowered group of ministers (EGoM) on natural gas. Not only does there appear to be no meeting ground on the issue of a pricing formula proposed by the committee, the petroleum ministry wants another committee headed by Vijay Kelkar to look into the other major recommendation of moving to the revenue sharing model in exploration and production.

Draft of shale gas policy has been sent for inter-ministerial consultation-to ministry of finance, environment, law & planning commission. As the government is trying to finalise a shale gas policy, it wants to build in environmental safeguards into the overall framework.

The ministry of petroleum and natural gas is engaged in extensive consultations with the environment ministry to ensure that once the actual work starts there are no glitches. According to an official close to the development, the draft of shale gas policy has been sent for inter-ministerial consultation—to the ministry of finance, environment, law and planning commission.

Rs 60,352-cr impact on power, urea makers; FinMin comes up with its own formula

Even before an empowered group of ministers starts deliberating on a revision in natural gas prices, the finance, power and fertiliser ministries have raised a red flag on the recommendations of the Rangarajan panel. Only the Planning Commission seems to be in agreement with the committee’s proposal to use a proposed formula as “an interim or transitional solution” till March 2017.

Prime minister's office wants OMCs to bear credit subsidy for remaining 8 subsidised units on reimbursement basis

Even as the Centre is accelerating the Direct Benefits Transfer (DBT) scheme for subsidised LPG cylinders, oil marketing companies are unlikely to benefit much from it. This is because the Prime Minister's Office has proposed that the government credit subsidy for only one cylinder into a beneficiary's account. Subsidy on the remaining quota of eight liquefied petroleum gas (LPG) cylinders would be borne by oil marketing companies (OMCs), which the government would reimburse later.

The green revalidation for the Korean major is stuck with the expert panel

Minister for Environment and Forests Jayanthi Natarajan has said the government has not firmed up its views on green clearance for the Rs 52,000-crore Posco project in Odisha. The expert appraisal committee (EAC) was yet to submit its report to her ministry. “It is only after they submit the report that we can think about the final clearances,” Natarajan told Business Standard.

Lankan govt has also protested and voiced reservations against the project

Indian and Sri Lankan environment activists are planning a series of joint protests against the proposed Kudankulam nuclear plant in southern Tamil Nadu.
“Several environmental groups are protesting in that country (Sri Lanka), too. We are in touch with the environmental organisations there on a regular basis. Last week, one of them had organised a protest in front of the Indian Embassy in Sri Lanka and we are looking to take this tie-up forward,” said M Pushpanarayan, leader of the Tamil Nadu-based People’s Movement Against Nuclear Energy (PMANE), which has completed 583 days of continuous protests against the project.

Rs 8,000-crore capacity expansion plan by Chennai Petroleum Corporation may get affected

Amid insurance woes, the US sanctions on Iran may well cast a shadow on expansion plans by Indian refiners. According to an official source, the Rs 8,000-crore capacity expansion plan by Chennai Petroleum Corporation Ltd (CPCL) may get hit as European companies are reluctant to give technology licensing for the upcoming six-million tonne units.

Despite the uncertainty surrounding re-insurance for oil refineries over crude oil import from Iran, companies here are not perturbed yet about the United States’ sanctions in this regard. They said they believe the government would come out with a solution by June.

Hit largely by the sanctions are the country’s largest importer of Iranian crude oil, Mangalore Refinery and Petrochemicals ( MRPL), a subsidiary of Oil and Natural Gas Corporation (ONGC), and Indian Oil’s ( IOC’s) Chennai Petroleum Corporation.