Green hydrogen and climate action could be a priority in Union Budget 2023
The union government is unlikely to launch any new subsidy scheme in the upcoming budget say sources. Government is also considering a Rs 31,000 crore scheme to boost green hydrogen, protection and preservation of the environment will be the big priority.
The government has been receiving recommendations from various quarters including the industry for the upcoming Union Budget 2023 and the clear recommendation is to not have any new subsidy schemes but a final call is yet to be taken and it could be taken in the next few weeks.
At the same time, green hydrogen and climate action will be a big priority area. The government is considering a Rs 31,000 crore outlay for the green hydrogen mission, which could be announced in the Budget. This could include an outlay for electrolysers and the rollout of green hydrogen for different sectors.
At the same time, there will be a significant allocation for renewable integration to support the target of 500 gigawatts of non-fossil-fuelled energy capacity by 2030.
Mission life will be a big priority according to sources as Lifestyle for the Environment (LiFE) was a mission launched by Prime Minister Modi and the UN Secretary-General Antonio Guterres in October. Recently, the centre has published a list of 75 climate-friendly practices under the mission Lifestyle for the Environment.
There are specific outlays for different ministries for implementing this programme that are being discussed right now. We believe that the Budget will put a lot of focus on how this mission will be rolled out over the next two years or so. The government would like this rollout to be on the lines of the Swachh Bharat Mission.
Also Read: CII advocates reduction in personal income tax rates, GST Law decriminalisation in Budget
First Published: Nov 22, 2022 6:24 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 12:25 PM
Odisha: Fight of heavyweights in Sambalpur where farmers, weavers hold the key
May 17, 2024 10:22 AM
Lok Sabha Election 2024: What rural Delhi wants
May 16, 2024 10:10 PM
Over 50 onion farmers detained in Nashik ahead of PM Modi's visit
May 16, 2024 11:14 AM