Updated February 1st, 2024 at 16:32 IST

Green push focused on wind energy, and EV's in Interim Budget 2024

Phased mandatory blending of compressed natural gas, compressed bio gas for domestic purposes will be mandated.

Reported by: Nitin Waghela
Green Budget 2024 | Image:X
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Green Budget 2024: Union Finance Minister Nirmala in her Interim Budget 2024 speech informed that Namo Bharat, an electric multiple-unit train, and metros can be the catalyst for required urban transformation. 

"Its expansion will be supported in large cities towards transit oriented development," she said. 

On the green energy front, Sitharaman mentioned, “Viability gap funding will be provided for harnessing offshore wind energy potential with an initial capacity of 1 Gw.

"Coal gasification and liquefaction capacity of 100 metric tonnes will be set up by 2030, reducing imports of natural gas such as methanol, and ammonia," she added. 

The Union Minister also said that phased mandatory blending of compressed natural gas, compressed bio gas for domestic purposes will be mandated. 

On the electric vehicle front, Sitharaman said,”Our government will support and strengthen the e-vehicle ecosystem by aiding in manufacturing, and charging infrastructure.” 

The centre will also prioritise greater adoption of e-buses for public transport through payment security mechanism. 

To further encourage green growth, "a new scheme of bio-foundry and bio-manufacturing will be launched," she said. 

"This will lead to environment friendly products like bio-friendly polymers, bio-pharmaceuticals, bio-plastics and bio agri inputs," she added.

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Notably, the central government has increased the capital outlay higher by 11.1 per cent to over Rs 11 lakh crore, which makes up for 3.4 per cent of the India GDP.


 

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Published February 1st, 2024 at 13:31 IST