Budget 2023 focuses on green growth, Rs 19,700 crore allocated for National Hydrogen Mission
By Team Newsable | First Published Feb 1, 2023, 12:01 PM ISTNirmala Sitharaman unveiled the Union budget for fiscal 2023/24 that aims to boost growth amid concerns about the impact of the global slowdown on the Indian economy. Green growth efforts to help reduce carbon intensity; create green job opportunities, said FM Sitharaman while presenting the Union Budget.
India is making rapid progress toward achieving its Net-Zero goals by 2070, according to a statement made by Finance Minister Nirmala Sitharaman on Wednesday. The National Green Hydrogen Mission, which has been given an allocation of Rs 19,700 crore, would help the economy transition to a low-carbon intensity and green economy, the finance minister said in her budget address.
FM Nirmala Sitharaman said the Green Credit Programme will be notified for responsive actions by individuals and companies to encourage environtment-friendly behaviour.
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She said, "Target to reach green hydrogen production of 5 MMT by 2030. Rs 35,000 crore has been allocated towards achieving net zero goal and energy transition."
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The finance minister said that the Budget 2023 builds on a focus to green growth. "The National Green Hydrogen Mission will make it easier for the economy to shift to one with a lower carbon footprint and less reliance on imported fossil fuels. With an expenditure of Rs 20,700 crore, an interstate transmission line for the evacuation and grid integration of 13 GW of renewable energy from Ladakh would be built," she added.
“Green growth efforts to help reduce carbon intensity; create green job opportunities," said FM Sitharaman while presenting the Union Budget.
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