India and the UK are considering technology transfers to reduce vehicular emissions to environmentally-benign levels. The two countries also propose to use each other's experiences to improve the quality of fuel supplies.
These are among the areas identified by the two countries for "further consideration" to tackle the problem of urban air pollution, which is alarmingly high in the metros, paticularly Delhi.
Under an understanding reached between environment and forests minister T R Baalu and the UK deputy premier and minister for environment, transport and regions, John Prescott, during the latter's visit to India, the two countries are considering how India can develop air quality monitoring strategies and systems for monitoring vehicular pollution through mutual cooperation.
Designing, inspection and maintenance of a system to control vehicular pollution and improvement in transport safety are the other areas identified for mutual cooperation between the two countries. The two have also agreed to carry forward the talks to concretise the understanding through regular dialogue and exchange of country delegations, besides workshops to be held in the UK as a follow-up of the one which Tata Energy Research Institute organised here for two days. ance ministry refused to agree to an increase in the depreciation rate from 20 per cent to 40 per cent.
In addition, the ministry had also turned down the proposal for full restoration of Section 33 AC of the Income Tax act, which had allowed for tax exemption on reserves created out profits for vessel acquisition.
What also needs to be worked is the rates applicable for adopting the NRT methods of taxation. The INSA has suggested a tax rate of Rs 5 per NRT, though this is unlikely to accepted by the finance ministry, since the actual receipts would be low.
Consquently, what was being thought was a slightly higher rate which would ensure that the tax revenues from shipping companies were higher than what was already been received.
The sources also said that the DoS had suggested a modified subsidy package for shipyards. This does not imply a higher yard subsidsies for domestic yards. Instead it would mean extending the scope of the subsidies including fopr export of vessels as well.
Shipyards are currently entitled for such yard subsidies are 30 per cent of the vessel costs of the lowest bid received in an open tender.
Increasing the scope of the subsidies is to ensure the viability of
