Budget 2023: Finance Minister said the government’s target of producing 50 lakh tonnes of green hydrogen by 2030
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The government has also approved Mission Hydrogen with an initial outlay of Rs 19,744 crore on January 4, 2023, with a view to make the country an energy-independent nation and reduce carbon emissions from critical sectors.
New Delhi. Finance Minister Nirmala Sitharaman on Wednesday announced a target of 5 million tonnes of green hydrogen production by 2030 in the budget for the financial year 2023-24. The Finance Minister also said that priority capital investment of Rs 35,000 crore has been made in the budget for energy transition and net zero emission objectives. He said the government would support setting up of 4,000 MW of battery energy storage. Sitharaman said that the ‘Green Loan’ program will also be notified under the ‘Environment Protection Act’. The government has also approved Mission Hydrogen with an initial outlay of Rs 19,744 crore on January 4, 2023, with a view to make the country an energy-independent nation and reduce carbon emissions from critical sectors.
The government plans to facilitate demand creation, production, use and export of green hydrogen by 2030 and mobilize investment of over eight lakh crore rupees. The Finance Minister further said that the government will spend Rs 10,000 crore every year on the Urban Infrastructure Development Fund. It will be on the lines of Rural Infrastructure Development Fund and will be managed by NHB (National Housing Bank).
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