Parliament approves Energy Conservation amendment bill
POWER & RENEWABLE ENERGY

Parliament approves Energy Conservation amendment bill

The Parliament approved a bill requiring the use of non-fossil fuels such biomass, ethanol, and green hydrogen as well as allowing the exchange of carbon credits throughout the nation.

The Rajya Sabha approved the Energy Conservation (Amendment) Bill, 2022 with a voice vote. The Act was approved by the Lok Sabha during its previous session in August of this year.

The bill imposes fines on manufacturers if a vehicle does not adhere to fuel consumption standards as well as penalties for infractions by industrial units or vessels.

The modifications also aim to encourage the use of renewable energy sources and the creation of a local carbon market.

The bill aims to assist the nation in meeting its climate change-related international responsibilities.

In order to enable a quicker decarbonisation of the Indian economy and support the achievement of sustainable development goals in line with the Paris Agreement, it wants to bring novel ideas such as carbon trading and mandate the use of non-fossil sources.

R K Singh, the Minister for New and Renewable Energy, stated in response to a discussion on the bill that it is environmentally friendly and will enable carbon trading in the nation.

Also read:
Govt to take steps to meet 230 GW peak demand in April 2023
IMC to raise 2.5bn via green bonds for solar power plant


The Parliament approved a bill requiring the use of non-fossil fuels such biomass, ethanol, and green hydrogen as well as allowing the exchange of carbon credits throughout the nation. The Rajya Sabha approved the Energy Conservation (Amendment) Bill, 2022 with a voice vote. The Act was approved by the Lok Sabha during its previous session in August of this year. The bill imposes fines on manufacturers if a vehicle does not adhere to fuel consumption standards as well as penalties for infractions by industrial units or vessels. The modifications also aim to encourage the use of renewable energy sources and the creation of a local carbon market. The bill aims to assist the nation in meeting its climate change-related international responsibilities. In order to enable a quicker decarbonisation of the Indian economy and support the achievement of sustainable development goals in line with the Paris Agreement, it wants to bring novel ideas such as carbon trading and mandate the use of non-fossil sources. R K Singh, the Minister for New and Renewable Energy, stated in response to a discussion on the bill that it is environmentally friendly and will enable carbon trading in the nation. Also read: Govt to take steps to meet 230 GW peak demand in April 2023 IMC to raise 2.5bn via green bonds for solar power plant

Next Story
Infrastructure Urban

3i Infotech Reports Rs 7.25 Bn Revenue for FY25

3i Infotech, a leading provider of digital transformation, technology services and technology solutions, announced its consolidated financial results for the fourth quarter and full year FY25, ended on March 31st, 2025. The company maintained its growth momentum, displaying consistent progress for the 3rd consecutive quarter.In Q4 FY25, 3i Infotech reported revenue of Rs 1.87 billion, reflecting steady performance compared to Rs 1.81 billion in Q3 FY25 and Rs 1.97 billion in Q4 FY24. The company delivered strong profitability improvements, with gross margin growing by 14.8 per cent Q-o-Q and 1..

Next Story
Infrastructure Urban

Emerald Finance Joins Baya PTE to Boost SME Bill Discounting

Emerald Finance is a dynamic company offering a spectrum of financial products and services including its flagship Earned Wage Access (EWA) in India, has entered into a strategic partnership with Singapore-based Baya PTE through its Indian subsidiary. This collaboration aims to strengthen bill discounting services for Small and Medium Enterprises (SMEs), enabling faster access to working capital and improved cash flow management.The initiative is designed to support SMEs that supply to large corporates such as JSW Steel, Delhivery, and PVR INOX, among others. By facilitating timely invoice dis..

Next Story
Infrastructure Urban

BLS E-Services Crosses Rs 5 Bn Revenue Mark in FY25

BLS E-Services, a technology-enabled digital service provider, announced its audited consolidated financial results for the quarter and full year period ended 31 March 2025.Speaking about the performance and recent updates, Shikhar Aggarwal, Chairman, BLS E- Services said, “We are delighted to report a remarkable performance in FY25, as we achieved several milestones during the fiscal year. FY25 marked our highest-ever financial performance, as we surpassed Rs 5 billion milestone in Total Income during the year, which was reported at Rs 5.45 billion, a notable YoY growth of 76 per cent. The ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?