Fuel norms: BEE announces key panels

Fuel norms: BEE announces key panels

New Delhi: The government moved a step closer to notifying fuel economy standards for the automotive sector with the Bureau of Energy Efficiency (BEE) setting up the technical and steering committees—two key panels that will collate technical data and recommend the norms.

‘Mint’ had on 15 August reported that the government proposes to impose fuel efficiency norms for vehicles despite opposition from the automobile industry. The steering committee will be chaired by Ajay Mathur, director-general of BEE, while Ravi Capoor, executive director of Petroleum Conservation Research Association will head the technical committee.

The committee will also have nominees from the automobile industry, Indian Oil Corp., Confederation of Indian Industry, Federation of Indan Chambers of Commerce and Industry and the Society of Indian Automobile Manufacturers.

New Delhi: The government proposes to allow foreign direct investment (FDI) in credit information companies along with commodity exchanges as part of the review policy.

“The proposal for FDI in credit information companies (CICs) is under consideration and will be taken to the cabinet committee on economic affairs after receipt of comments from different ministries," an official in the department of industrial policy and promotion said.

The government is also reviewing FDI policy for other sectors including aviation services, sports goods and real estate. However, official sources said that retail will be kept out of the policy review. Global CIC firms see a huge business opportunity in building up credit history of clients and sharing it with the fast growing financial services sector. Finance minister P. Chidambaram said in New York on Sunday that the government intended to make financial services the next growth engine for India. PTI