India passes new energy policy

NEW DELHI, Dec. 26 (UPI) -- India's government approved a new integrated energy policy Friday.

The new energy policy reportedly focuses on how to achieve sustainable growth and energy security.

According to a report from The Economic Times of India, the policy would make energy markets more competitive through market-determined energy pricing and resource allocation. The government also wants to make the industry and its oversight more transparent and efficient.

India's Planning Commission drew up the plan and also said the government wants to work further on how best to exploit domestic energy resources.

Home Minister P. Chidambaram told the Economic Times the government will set up a monitoring committee under the Cabinet Secretary that will be in charge of reviewing the implementation.