Finance Minister Nirmala Sitharaman in her Union Budget speech for the coming financial year 2023-24 said:
According to the Paris Agreement on Climate Change, a target of 100% reduction in carbon dioxide emissions has been set by 2070. That is the planned shift from fossil fuels to renewable fuels. For this, a new section titled ‘Green Growth’ has been included in the budget.
Rs.35 thousand crores have been allocated as priority capital to achieve this goal. The Central Government approved the National Green Hydrogen Project on the 4th. 19,700 crores will be allocated for this project. Under this scheme, Indian factories will be converted into green factories.
The target has been set to produce 5 MMT by 2030. This will significantly reduce fossil fuel imports. He said this.
