Indian parliament house passes Energy Conservation (Amendment) Bill
10 Aug 22 1 min read
"This is the bill for the future," said power minister R K Singh, adding that the renewable energy capacity addition in the country was the fastest in the world.
"India has emerged as the most attractive destination for investment in renewable energy and the whole world is saying it," he said.
The bill provides for penalties for violations by industrial units or vessels as well as on manufacturers if a vehicle fails to comply with fuel consumption norms.
It seeks to introduce fresh concepts like carbon trading and mandate the use of non-fossil sources to ensure faster decarbonisation of the economy and help achieve sustainable development goals in line with the Paris Agreement, according to a news agency.
The amendments seek to promote renewable energy and the development of a domestic carbon market to battle climate change.
Fibre2Fashion News Desk (DS)
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