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India

  • Oil price shock

    Oil price shock

    India s energy policy is taking a precipitous path

  • A nod to private power

    THE controversy over the 1,000 megawatt Cogentrix power projecr in Mangalore, Karnataka, has come to an end with the Centre formally giving its approval to the project in principle and the

  • Forget oil

    Forget oil

    Create a culture that places a premium on human power

  • GHG Account

    GHG Account

    At a Kolkata business school; India s first

  • Iran firm on its gas price

    Striking down the requests of the governments of India and Pakistan, Iran has made it clear that the country will not sell its gas at a knock-down rate. "The price suggested by India and

  • Sugar for oil

    Energy crisis jacks up prices, creates supply problems

  • What's wrong with cheap energy?

    Subsidies and low prices of energy do not help the poor, in whose name these steps are ostensibly taken; they merely fatten the urban and rural elite

  • Government raises petrol and diesel prices

    AFTER several rounds of deliberations on raising auto fuel prices, the government finally decided to bite the bullet. Despite the Left's opposition it has raised petrol and diesel prices by Rs 2/litre and Re 1/litre, respectively, from February 15. The current price of petrol in Delhi is Rs 45.52/litre (from the earlier price of Rs 43.52/litre) and diesel is Rs 31.76/litre (from Rs 30.48/litre).

  • Sovereign wealth fund for overseas energy assets

    The government is planning to create a multi-billion-dollar sovereign wealth fund to invest in energy assets such as oil, gas and coal across the world. "The plans are at a very initial stage. A decision on this would be taken after the budget,' Planning Commission energy adviser Surya P Sethi said here. "The fund, if set up, will invest in overseas oil, gas and coal assets.' Sethi did not give any idea of the possible size of the fund, but said: "It has to be in billions of dollars.' According to the latest data available with the Reserve Bank of India, the country's foreign exchange reserves stood at about $290.8 billion for the weekended February 8, up 57% from a year earlier. A sovereign wealth fund comprises assets such as stocks, bonds and other financial instruments, which is owned and managed by the government. The funds are deployed overseas for higher returns. The fund will be on the lines of Temasek Holdings, a sovereign wealth fund owned by the Singapore government. Officials are of the view that low returns on investments in US treasury bills and other sovereign securities did not cover the costs of maintaining huge forex reserves, and justified establishing a fund that could deliver higher returns. Last year, state-run India Infrastructure Finance Co Ltd set up an offshore unit in London to use part of the country's reserves to help local Companies import equipment for infrastructure projects. The corpus of this fund is $5 billion. The central bank has previously expressed reluctance at using forex reserves to set up an investment fund as it said the build-up in reserves was largely to insulate the Economy from the impact of huge capital inflows, which could be reversed at short notice.

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