• About us
  • Contact us
  • Our team
  • Terms of Service
Saturday, March 7, 2026
Kashmir Images - Latest News Update
Epaper
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER
No Result
View All Result
Kashmir Images - Latest News Update
No Result
View All Result
Home BUSINESS

Bill to set up carbon markets introduced in Lok Sabha

Press Trust of india by Press Trust of india
August 3, 2022
in BUSINESS
A A
0
Farooq Abdullah among 15 MPs nominated as associate members of delimitation panel
FacebookTwitterWhatsapp

New Delhi: A bill that seeks to make it mandatory for buildings with a minimum connected load of 100 kW to meet their energy requirements from renewable sources was introduced in the Lok Sabha on Wednesday.

Power Minster R K Singh introduced in the Lok Sabha the Energy Conservation (Amendment) Bill that also has provisions to establish carbon markets and empower state electricity regulatory commissions to make regulations for a smooth discharge of its functions.

More News

Focus on making Indian agri products export-oriented, globally competitive: Modi

Govt will use every policy tool to help exporters deal with West Asia crisis: Piyush Goyal

Govt invokes ESMA powers, orders refiners to ramp up LPG production

Load More

Trinamool Congress MP Saugata Roy opposed the introduction of the Bill, contending the provisions were not sufficient to find alternative sources of energy and the bill seeks to make the Bureau of Energy Efficiency (BEE) a top-heavy structure.

“This Bill has nothing to improve the introduction of green hydrogen, green ammonia and other non-fossil fuels,” Roy said and urged the government to bring more comprehensive draft legislation.

Seeking to address concerns raised by Roy, the Union power minister said the bill did not seek to turn BEE into a large body, but only increase the members in the governing council to ensure participation of other departments in its functioning.

“We are also introducing carbon markets. A person embracing renewable energy will earn credits which can be purchased by others. This will make financing renewable energy projects easier,” Singh said.

The Bill seeks to mandate the use of non-fossil sources, including green hydrogen, green ammonia, biomass and ethanol for energy and feedstock.

Singh said big residential buildings consume 24 per cent of electricity and the bill has provisions to make such buildings more energy efficient and sustainable.

It also has provisions to slap penalties for non-compliance with the rules by industrial units or vessels, and on manufacturers if a vehicle fails to comply with fuel consumption norms.

“With the passage of time, and in the context of the energy transition with special focus on the promotion of new and renewable energy and National Green Hydrogen Mission, a need has arisen to further amend the said Act to facilitate the achievement of ‘Panchamrit’ – as five nectar elements presented by India in Conference of Parties -26 in Glasgow last year,” Singh said in the Statement of Objects and Reasons of the Bill.

The amendments also seek to promote renewable energy and the development of a domestic carbon market to battle climate change, introduce new concepts such as carbon trading and mandate the use of non-fossil sources to ensure faster decarbonization of the Indian economy and help in achieving sustainable development goals in line with the Paris Agreement.

“It is considered necessary to have legal provisions to prescribe minimum consumption of non-fossil energy sources as energy or feedstock by the designated consumers. This will help in the reduction of fossil fuel-based energy consumption and resultant carbon emissions to the atmosphere,” the Union minister said.

Similarly, a need was also felt to provide a legal framework for a carbon market to incentivise actions for emission reduction leading to increased investments in clean energy and energy efficiency areas by the private sectors, he added.

Previous Post

Tehsildar, his clerk arrested for demanding, accepting bribe in Srinagar: ACB

Next Post

Militants Attack police vehicle in Allochibagh Srinagar, no injury reported: Police

Press Trust of india

Press Trust of india

Related Posts

Focus on making Indian agri products export-oriented, globally competitive: Modi

Pahalgam terror attack: PM Modi steps up diplomatic offensive against Pak
March 6, 2026

New Delhi:  Prime Minister Narendra Modi on Friday asked farmers to leverage India's diverse climate to increase productivity and export...

Read moreDetails

Govt will use every policy tool to help exporters deal with West Asia crisis: Piyush Goyal

Government e Marketplace: What a GeM!
March 6, 2026

New Delhi:  The government will use all policy tools and support measures to help domestic exporters deal with the ongoing...

Read moreDetails

Govt invokes ESMA powers, orders refiners to ramp up LPG production

March 6, 2026

New Delhi: The government invoked sparingly used emergency powers to direct oil refineries to ramp up LPG production as it...

Read moreDetails

Tension over Strait of Hormuz threatens India’s tea exports to Gulf markets

Tension over Strait of Hormuz threatens India’s tea exports to Gulf markets
March 5, 2026

Kolkata: Indian tea exports could face significant disruption if tensions in West Asia escalate further and shipping through the Strait...

Read moreDetails

‘Institutionalise taxpayer-friendly mechanism’: CIC flags hassle in grievance redressal

States Taxes Deptt intensifies action against tax evaders
March 5, 2026

New Delhi:  The Central Information Commission (CIC) has advised the Income Tax Department to "institutionalise a taxpayer-friendly mechanism", flagging that...

Read moreDetails

Clear downward pressures on China’s GDP growth, but nothing for India to celebrate: Cong

March 5, 2026

New Delhi: The Congress on Thursday said there are clear downward pressures on China's GDP growth which are now structural...

Read moreDetails
Next Post
CRPF SI kills senior, self in Delhi

Militants Attack police vehicle in Allochibagh Srinagar, no injury reported: Police

  • About us
  • Contact us
  • Our team
  • Terms of Service
E-Mailus: kashmirimages123@gmail.com

© 2025 Kashmir Images - Designed by GITS.

No Result
View All Result
  • TOP NEWS
  • CITY & TOWNS
  • LOCAL
  • BUSINESS
  • NATION
  • WORLD
  • SPORTS
  • OPINION
    • EDITORIAL
    • ON HERITAGE
    • CREATIVE BEATS
    • INTERALIA
    • WIDE ANGLE
    • OTHER VIEW
    • ART SPACE
  • Photo Gallery
  • CARTOON
  • EPAPER

© 2025 Kashmir Images - Designed by GITS.