Sunday, September 27
Automakers are pushing back against India’s proposed carbon emission limits and plans for new standards for lighter cars, terming the South Asian nation’s use of regulation to stem planet-warming greenhouse gases as “too aggressive.”New Delhi’s plan to cut car emissions by a third from 2027, more than twice the pace of its previous target, risks the sustainability of the industry, according to a note from the Society of Indian Automobile Manufacturers seen by Bloomberg News.The document is part of discussions on the third phase of India’s Corporate Average Fuel Efficiency norms, a set of rules first introduced in 2017 to reduce greenhouse gas emissions and dependency on oil imports. India is one of the world’s largest releasers of greenhouse gases, and its $137-billion auto i
New Delhi: The government will have a relook at the closure of State Trading Corporation of India Limited (STC) and PEC Limited through the Bankruptcy Code, the first instance of pursuing closure of central public sector enterprises or CPSEs through this mechanism. Both these firms are categorised as a nonperforming asset or NPA with lenders.A senior government official confirmed that the closure of these two firms under the ministry of commerce and industry is now being examined through the Insolvency and Bankruptcy Code (IBC) mechanism."Last month, after discussions at the level of the Prime Minister Office (PMO), it was decided to explore this route while also taking into consideration the existing guidelines for closure of sick and loss-making CPSEs," he said, adding that inter-ministe
