India needs to increase its electricity generation capacity by nearly six times in the next 20 years in order to feed an economy growing at 7 per cent, industry chiefs said here at the India Economic Summit.

Pallavi Bisaria / New Delhi/ Lucknow November 10, 2008, 0:42 IST

In order to popularise alternative methods of conventional energy, the Uttar Pradesh government has announced subsidy on solar water heating systems.

The scheme will be carried out through the Non-conventional Energy Development Agency (NEDA), a state government nodal agency for renewable energy.

luxury diesel cars may become dearer and bulk diesel consumers may no longer get fuel at subsidized rates. The Ministry of Petroleum and Natural Gas plans to impose 25 per cent cess on big diesel cars and charge industrial consumers the market price of Rs 57 per litre, Rs 22 more than the current price. The railways and state transport undertakings will be exempted from paying the market price.

Proposed fiscal reforms for automotive fuels Petrol Increase selling price before state taxes and duties by Rs 2.50 per litre each month to align with full cost price Total increase of Rs 10.90 per litre in selling prices before taxes Temporary reduction in excise duty to Rs 10 per litre to be restored by March 2009 Total increase of Rs 11.28 per litre before

A committee recommends rationalization of diesel and petrol prices The long awaited pricing formula for petroleum products to bail out the oil industry from impending bankruptcy has been tabled. If put into effect this prescription can correct distorted prices of automotive fuels of petrol and diesel and halt misuse of under-taxed and under-priced diesel by the car sector. This is