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As part of his ambition to make India a green economy, Union minister Nitin Gadkari wants to slash GST on hybrid vehicles and has vowed to rid the country entirely of the over 36 crore petrol and diesel vehicles. "One hundred per cent," Gadkari, the Union Minister for Road Transport and Highways, said when asked whether it is possible for India to get rid of petrol and diesel cars altogether. "It is difficult but not impossible. This is my vision," Gadkari said in an interview to PTI. He said India spends Rs 16 lakh crore on fuel imports. This money will be used for improving the life of farmers, villages will be prosperous and the youth will get employment, the minister said.Also Read: 'We are ending toll': Nitin Gadkari on new toll systemGadkari did not give any timeline to meet this ambitious target which even proponents of green energy believe is mind bogglingly difficult. The proposal to reduce GST on hybrid vehicles to five per cent and to 12 per cent for flex engines has been sent to the Finance ministry which is considering the requisition, Gadkari said. The minister said he firmly believes the country can end fuel import by promoting the use of biofuels. Environmental activists welcomed Gadkari's vision for increasing green mobility, but also struck a word of caution by flagging the use of fossil fuels in the production of electricity. "In India, we are still heavily dependent on a fossil fuel-based energy system to power electric cars, and this needs to be changed. There is urgent need to ensure 100 per cent renewable energy alongside electric vehicles to tackle the climate crisis," Avinash Chanchal, a campaigner for Greenpeace India, told PTI. Gadkari said he has been pitching for alternative fuels since 2004 and is confident things will change in the coming five to seven years. "I cannot give you a date and year for this transformation to take place as it is very difficult. This is difficult but not impossible," Gadkari asserted. He said he firmly believes that given the speed with which electric vehicles are being introduced, the coming era will be of alternative and biofuels and this dream will come true. Gadkari said auto companies such as Bajaj, TVS and Hero are also planning to manufacture motorcycles using flex engines and auto rickshaws using similar technology too were on the way. "I roam around in a car that runs on hydrogen. You can see electric cars in every other household. People who used to say this was impossible, have changed their views now and started believing in what I have been saying for the last 20 years," the minister said. "Tatas and Ashok Leyland have introduced trucks that run on hydrogen. There are trucks that run on LNG/CNG. There are 350 factories across the country of bio-CNG," he said. "Definitely, a revolution is taking place. The fuel imports will end and this country will become self-reliant - Atmanirbhar Bharat. I strongly believe in this," Gadkari said.

A Delhi Court on Monday remanded chief minister Arvind Kejriwal to judicial custody till April 15 in connection with the money laundering case related to alleged excise policy scam.The ED had sought a 15-day judicial custody of Kejriwal, saying that was "totally uncooperative".The Aam Aadmi Party (AAP) leader was produced before a Delhi court on Monday as his previously extended Enforcement Directorate (ED) custody ended on April 1, 2024.Also Read: What is Arvind Kejriwal's connection to the Delhi excise policy case?On March 28, Special Judge Kaweri Baweja of the Rouse Avenue Court extended his ED custody, holding that there were "sufficient reasons".However, she allowed him to meet his family members and lawyers.The probe agency had sought the Chief Minister's custody for seven more days. However, after hearing the arguments, the court extended the AAP supremo's ED remand by four days till April 1, observing that there appear to be "sufficient reasons" to permit his further custodial interrogation, particularly keeping in view the submissions of the ED.Also Read: Arvind Kejriwal sent to Tihar jail. What is the difference between judicial and ED custody?The probe agency submitted that he is required to be confronted with the material collected and statements recorded so far in the course of the investigation.The court directed the investigation officer to ensure that further interrogation and confrontation, etc., of the accused is done without any delay.Judge Baweja allowed CM Kejriwal to meet his family members, including his wife, daughter, PA and advocates.Moreover, the court had directed the agency to conduct the interrogation at a place with CCTV coverage and for the preservation of the footage. The ED was also asked to provide the requisite medication to CM Kejriwal and get him medically examined in accordance with the law during the period of his custody.The ED arrested CM Kejriwal on March 21 after questioning him for over two hours at his official residence in Delhi.The ED has termed CM Kejriwal the "kingpin and the key conspirator" of the alleged excise scam in collusion with other ministers of the Delhi government, AAP leaders, and other persons(With inputs from agencies)

Brokerage firm Jefferies maintained an underperform rating on GAIL India, Morgan Stanley maintained an overweight on Infosys, PNB Housing, and ICICI Lombard.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:Morgan Stanley on IT: Infosys, HCL Tech, WiproMorgan Stanley maintained an overweight rating on Infosys but slashed the target price to Rs 1750 from Rs 1820 earlier.The global investment bank upgraded HCL Technologies to overweight from Equal-Weight earlier but slashed the target price to Rs 1730 from Rs 1750 earlier.Morgan Stanley has an underweight rating on Wipro (Target Rs 450) and Tech Mahindra (Target Rs 1190). It has an Equal-Weight rating on LTIMindTree (Target Rs 4800) and Mphasis (Target Rs 2600).Morgan Stanley on PNB Housing: Overweight| Target Rs 970Morgan Stanley maintained an overweight rating on PNB Housing with a target price of Rs 970. CARE and ICRA upgraded Long term Rating to AA+.The global investment bank sees this development as positive for growth and profitability. It could further help improve both availability and cost of borrowing.The development is likely to benefit loan spreads and loan growth over a period of time.Morgan Stanley on ICICI Lombard: Overweight| Target Rs 1875Morgan Stanley maintained an overweight rating on ICICI Lombard with a target price of Rs 1875.ICICI Lombard held an analyst meeting focusing on its tech and digital efforts. Its Q3FY24 GWP from app has risen ~3.2x YoY, while 9MFY24 GWP from digital partnerships has risen 4x.The company continues to focus on customer engagement, fraud detection, and driving efficiency. It has developed several data-driven solutions to business problems.Jefferies on GAIL India: Underperform| Target Rs 150Jefferies maintained an underperform rating on GAIL India with a target price of Rs 150. PNGRB issued unchanged Unified Tariffs. The current tariff structure is already factored in.Order does not refer to the higher gas cost of GAIL. The risk-to-reward ratio is unfavourable.(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of the Economic Times)