Budget 2023-24:  Govt prioritises energy security with reduced emission

New Delhi: The recently launched National Green Hydrogen Mission (NGHM) with an outlay of 19,700 crores will facilitate the transition of the economy to low carbon intensity and reduce dependents on fossil fuel imports.

The mission aims to make India a global hub for production, decarbonisation of industrial, mobility and energy sectors; reduction in dependence on imported fossil fuels and feedstock; development of indigenous manufacturing capabilities; creation of employment opportunities; and development of cutting-edge technologies.

GREEN GROWTH AND ENVIRONMENT

• Annual production of 5 MMT under the Green Hydrogen Mission is to be targeted by 2030 to facilitate the transition of the economy to low carbon intensity and to reduce dependence on fossil fuel imports.
• ₹35000 crore outlay for energy security, energy transition and net zero objectives.
• Battery energy storage systems are to be promoted to steer the economy on the sustainable development path.
• 20,700 crore outlay provided for renewable energy grid integration and evacuation from Ladakh.
• “PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth” (PM-PRANAM) to be launched to incentivize States and Union Territories to promote alternative fertilizers and balanced use of chemical fertilizers.
• ‘Mangrove Initiative for Shoreline Habitats & Tangible Incomes’, MISHTI, to be taken up for mangrove plantation along the coastline and on salt pan lands, through convergence between MGNREGS, CAMPA Fund and other sources.
• Green Credit Programme to be notified under the Environment (Protection) Act to incentivize and mobilize additional resources for environmentally sustainable and responsive actions.
• Amrit Dharohar scheme to be implemented over the next three years to encourage optimal use of wetlands, enhance bio-diversity, carbon stock, eco-tourism opportunities and income generation for local communities.

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