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Energy Transition And Climate Action: Union Budget 2022 Updates

Energy Transition And Climate Action: Union Budget

The Union Minister for Finance & Corporate Affairs, Smt Nirmala Sitharaman tabled the Union Budget 2022-23 in Parliament.

  • Additional allocation of Rs. 19,500 crore for Production Linked Incentive for manufacture of high efficiency solar modules to meet the goal of 280 GW of installed solar power by 2030.
  • Five to seven per cent biomass pellets to be co-fired in thermal power plants:
    • CO2 savings of 38 MMT annually,
    • Extra income to farmers and job opportunities to locals,
    • Help avoid stubble burning in agriculture fields.
  • Four pilot projects to be set up for coal gasification and conversion of coal into chemicals for the industry
  • Financial support to farmers belonging to Scheduled Castes and Scheduled Tribes, who want to take up agro-forestry.

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