Nirmala Sitharaman Exclusive Interview: Push on Green is Not Going to be Any Less, Says FM

Push on green is not going to be any less, said Union Finance Minister Nirmala Sitharaman, speaking exclusively to Rahul Joshi, Group Editor-in-Chief, Network18, two days after she presented Budget 2023-24 in Parliament on February 1.

Sitharaman said that “renewable energy will touch every walk of life”. “In every sector, there are provisions in the budget for them to do the transition from depending on fossil fuel to renewable energy fuel,” she said.

“Going green is very important…transition from fossil fuels is important,” she said.

Reiterating the government’s commitment to climate action, Sitharaman had listed ‘Green Growth’ as one of the seven big priorities along with infrastructure and investment, financial sector, inclusive development as well as youth power, as she presented the Budget.

While presenting the Budget, Sitharaman had said: “We are implementing many programmes for green fuel, green energy, green farming, green mobility, green buildings, and green equipment, and policies for efficient use of energy across various economic sectors. These green growth efforts help in reducing carbon intensity of the economy and provides for large- scale green job opportunities.”

The government has also allocated Rs 20,700 crore, including central support of Rs 8,300 crore, for building the inter-state transmission system for evacuation and grid integration of 13GW renewable energy from Ladakh. The transmission lines will bring clean energy round-the-clock to residents of the far-flung villages, including the defence establishments in the Himalayan region, which largely remain cut-off during winters.

During the presentation, Sitharaman said a detailed framework for Pumped Storage Projects will also be formulated. Battery Energy Storage Systems with capacity of 4,000 MWH will be supported with Viability Gap Funding in order to steer the economy on the sustainable development path, she had added.

Among other things, the Budget also included the government’s plans to notify a Green Credit Programme under the Environment (Protection) Act to incentivise environmentally sustainable and responsive actions by companies, individuals and local bodies.

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