Focus towards green energy in Union Budget 2023

Vishwesh Sanas
/ Categories: Trending, Mindshare
Focus towards green energy in Union Budget 2023

Rs 35,000 crore will be allocated for the energy transition

Green growth  

  • Rs 35000 crore priority capital allocated for the energy transition. 
  • Custom duty exemption on the import of Lithium Ion batteries to encourage green mobility. 
  • National Green Hydrogen mission to help the country move towards zero-carbon targets. National Green hydrogen mission with an outlay of Rs 19,700 crore will facilitate the transition of the economy to low carbon intensity, reduce dependence on fossil fuel imports. India National Green Energy Hydrogen Mission aim to output 5MMT by 2030. 
  • Interstate transmission system for evacuation and grid integration of 13 GW renewable energy from Ladakh to be constructed with an outlay of Rs 20,700 crore. This is positive for gas distribution and the energy sector. 
  • Govt to support setting up of battery energy storage of 4,000 MWH, pump energy storage (reverse hydro-power) 
  • Government plan to introduce a 5 per cent compressed Biogas mandate for all natural gas entities marketing in India. The companies marketing natural gas will have to market compressed biogas to the extent of 5 per cent of their volumes. 
  • Govardhan Scheme to establish circular economy using manure. 10,000 bioresource centres to be set up along 200 compressed Biogas plants. Rs 10000 crore outlay is considered for the biogas sector. 
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