The Ministry of Finance (MOF) announced Thursday that central government-funded expenditures on energy savings and emission reductions as well as on renewable energies development will total 97.9 billion yuan ($15.5 billion) this year, up 25.1 billion yuan from 2011.

The government's accumulative "green" investment will hit 170 billion yuan in 2012, the MOF said.

Meanwhile, the central government has budgeted 25.5 billion yuan in subsidies for expanding the consumption of energy-saving household electrical appliances this year, according to the MOF.

New Delhi State-owned fuel marketers IOC, HPCL and BPCL on Thursday ruled out an immediate rollback of the steepest petrol price increase of R7.5-R8 a litre from Thursday night but conceded that if the government instructs them to cut prices, they have no other go but to follow their majority shareholder.

They also indicated that if petrol price falls in world markets or rupee strengthens against the dollar this fortnight, the resultant gain shall be passed on to the consumer by way of a price cut.

New Delhi Noted agricultural scientist MS Swaminathan on Thursday urged the government to invest in building infrastructure for post-harvest technology before it implements the food security Bill.

Pointing out a huge mismatch between grain production and storage facilities, Swaminathan said for ensuring adequate supply of grain under the food security law, a modern procurement system needs to be in place.

Saudi Arabia, the world's top oil exporter, may finally be getting serious about overcoming the technical and financial hurdles for tapping its other main resource: sunshine.

Thousands of solar power panels have sprung up across Europe over the past few years, thanks to generous subsidies that make the technology an attractive alternative to conventional energy.

Saudi Arabia too, wants to generate much more solar power as it lacks coal or enough natural gas output to meet rapidly rising power demand.

The Punjab government is spending Rs.36 billion to upgrade irrigation system for promotion of agriculture sector in the Punjab, Irrigation officials said.

They added that under the programme drip and sprinkle irrigation would be installed on 1.20 lakh acres of land. In addition, 9,000 water courses would be improved across the Punjab and 3,000 laser land levelers would be provided on subsidy basis, they said.

Two large overseas investors in the UK energy market have joined the chorus of criticism of the government's new energy bill.

The German-based E.ON, one of the big six electricity providers in Britain, said national subsidy schemes for renewables such as Britain's contracts for difference had helped "bust" key European carbon reduction initiatives.

And Norway's Statkraft, said on Wednesday it would not be able to press the button on a giant £30bn offshore wind farm on the Dogger Bank until ongoing "uncertainty" was lifted.

New Delhi, May 23: The raised petrol prices and the untouched diesel reflect a disturbing trend that is pushing consumers towards private diesel vehicles and hurting the country’s environment, health and economy, analysts have said. The increase announced today will mainly jack up the fuel bills of owners of small cars and two-wheeler motorbikes, the analysts said, pointing out that most big cars, and virtually all of public transport, freight trucks and railways run on diesel.

In a bid to provide some relief to the citizens burdened by rise in prices of food items, the city government plans to soon revive a scheme under which subsidised wheat flour will be sold at over 400 outlets at around `14 per kg.

The decision to revive the scheme came after Union minister of state for food and civil supplies K.V. Thomas at a meeting with chief minister Sheila Dikshit agreed to her request to provide additional quota of subsidised wheat to Delhi.