India’s Interim Budget Focuses on Green Economy Boost
The 2024-25 Interim Budget, presented by Finance Minister Nirmala Sitharaman, reflects a steadfast commitment to a green economy. With a focus on sustainable development and climate resilience, the budget doubles the allocation for the National Green Hydrogen Scheme to INR 600 crore and increases solar power allocations to INR 8,500 crore.
Emphasizing the vision for ‘Viksit Bharat’, the Government aims to adopt policies fostering growth and inclusive development. Concrete strategies include benefiting one crore households with rooftop solarization and offering up to 300 units of free electricity monthly. To achieve India’s ‘net-zero’ commitment by 2070, the budget introduces measures like offshore wind energy funding, coal gasification capacity increase, and mandatory compressed biogas blending.
The expansion of the e-vehicle ecosystem and the launch of a bio-manufacturing and bio-foundry scheme underscore the Government’s green initiatives for transformative, regenerative manufacturing. The budget aligns with sustainable development goals amidst global climate challenges.