Union Budget 2023-2024: Announcements under Green Growth

1 Feb 2023 , 11:58 AM

“We are implementing many programs for green growth across various economic sectors…They will help reduce carbon intensity and create green jobs,” the FM said. The government hints at a more broad based growth in green energy.

The recently launched national green hydrogen with an outlay of Rs 19,700 crore will facilitate the transition of the economy to low carbon intensity and reduce dependency on fossil fuel imports. Our target is to reach an annual production of 5 MMT by 2030. This budget provides for Rs 35,000 crore capital investment towards energy transition and net zero objective and energy security by the Ministry of petroleum and natural gas, the FM declared.

The government proposes to keep the focus on natural farming. With the Budget focusing on a ‘green growth’ strategy, it prioritizes the adoption of green fuel, energy, and building practices to reduce carbon intensity and create new green job opportunities. 

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