India plans to lead a campaign against a European Union move to charge airlines for their emissions. The EU plans set up an Emission Trading Scheme. The scheme will levy a fee on airlines that exceed certain emission caps. The government has offered to host a meeting of officials from nearly 15 countries affected by the EU’s plan. And some have already said they’ll attend. The EU claims India’s airlines will not be affected by the carbon levy since their fleets are more modern. But analysts have told Mint they could end up paying millions of dollars every year.
Veteran BJP leader L.K. Advani has made it clear he’s not interested in becoming Prime Minister. On Wednesday Advani said he had no intention of seeking the post during the next general elections in 2014. His statement clears the way for other BJP leaders including Gujarat chief minister Narendra Modi to make a bid for the top job.
Indian markets ended flat on Wednesday as it joined equities around the world in awaiting the US Fed’s decision on a fresh stimulus. The Sensex slipped 0.20% on the BSE to 17065.15. And the Nifty went down 0.14% to 5133.25.