New Delhi – In a visionary budget presentation today, Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman, unveiled a host of measures aimed at propelling India towards a sustainable and green future. The Interim Budget 2024-2025, while addressing the nation’s energy needs, also champions eco-friendly alternatives through the promotion of rooftop solarisation and a groundbreaking Bio-Manufacturing and Bio-Foundry scheme.
Rooftop Solarisation – A Beacon of Light for Households
Highlighting the government’s commitment to making electricity accessible and affordable, Sitharaman announced an ambitious rooftop solarisation initiative. Under this program, one crore households will receive up to 300 units of free electricity every month, translating into substantial annual savings ranging from fifteen to eighteen thousand rupees.
This groundbreaking scheme not only promises economic relief for households but also opens avenues for entrepreneurship and employment. It encourages the adoption of electric vehicles by facilitating charging infrastructure, contributing to the nation’s sustainable mobility goals.
Green Energy Commitment for a Net-Zero Future
Sitharaman underscored the nation’s commitment to achieving ‘net-zero’ by 2070 with strategic proposals in the energy sector. Viability gap funding will be provided to harness offshore wind energy potential, while plans for coal gasification and liquefaction aim to reduce dependency on imports of natural gas, methanol, and ammonia.
The phased mandatory blending of Compressed Bio Gas (CBG) in Compressed Natural Gas (CNG) and Piped Natural Gas (PNG) promises a significant shift towards cleaner and greener alternatives. Financial assistance for biomass aggregation machinery will further support sustainable energy collection.
Energizing the Electric Vehicle Ecosystem
The budget places a strong emphasis on expanding and fortifying the electric vehicle (EV) ecosystem. Sitharaman affirmed the government’s commitment to supporting the manufacturing and charging infrastructure of EVs. A notable announcement includes the encouragement of greater adoption of e-buses for public transport networks through a robust payment security mechanism.
Bio-Manufacturing and Bio-Foundry Scheme – Transforming Manufacturing Paradigms
Introducing a new scheme for bio-manufacturing and bio-foundry, Sitharaman envisions a future dominated by environment-friendly alternatives. This initiative will pave the way for the production of biodegradable polymers, bio-plastics, bio-pharmaceuticals, and bio-agri-inputs. The Finance Minister emphasized that this scheme will not only foster sustainable practices but also transform the current consumptive manufacturing paradigm into one based on regenerative principles.
