Energy budget 2023-2024 (A roadmap for green energy transition in India is all set)

In the budget session of 2023-2024, the Indian Govt has encouraged the growth of green energy and green hydrogen in India. A sum of INR 35000 crore has been announced for the green energy transition to meet the Panchamrit goal of 2070 net zero carbon emissions. It means we could see more policies incentives and schemes under the green energy sector. Majorly solar and wind would be eye-catching sources for green energy investments. To encourage the other RE sources, the govt has bought the Gobardhan scheme in which 10,000 crore will be provided to set up 200 biogas and 300 cluster-based plants. The govt has targeted to support 4,000-megawatt hours of battery storage capacity via viability gap funding. It means BESS (Battery Energy Storage System) could establish a good market with technology upgradation in India and the demand for Fossil fuel-based power backups will be reduced. Govt has also targeted 5MMT (Million Metric Tonnes) of green hydrogen production till 2030 with an investment of INR 19700 crore. Top states producing green hydrogens such as  Karnataka, Odisha, Gujarat, Rajasthan, and Maharashtra may be the investment points. 
A scheme for alternative fertilizers & chemical fertilizers promotions was introduced by the govt in 2023, which is named "PM-PRANAM" (PM program for Restoration, Awareness, Nourishment, and Amelioration of Mother earth) and will be launched in different states and UTs (Union Territories). Apart from green energy generation growth, the govt has also focused on grid connectivity of renewable energy across India. The interstate transmission system for grid integration of 13GW RE from Ladakh will be constructed with an investment of 20,700 crores including central support of 8,300 crores. Ladakh has the uninstalled potential of 1lakh MW wind energy, which can be utilized after the construction of the transmission system.  Govt is vigorously pushing the green energy growth. This is the first time that "Green Growth" has been identified as one of the saptrishi priorities. 



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