On the 23rd of February Prime Minister Shri Narendra Modi addresses a post-budget webinar on “Green Growth.” The event marks the first in a series of 12 post-budget webinars organized by the Indian government to gather ideas and suggestions for the effective implementation of initiatives announced in the Union Budget 2023.
During the event, the Prime Minister highlighted that all budgets presented in India after 2014 have prioritized new-age reforms and sought solutions to contemporary challenges. He outlined three pillars for green growth and energy transmission: increasing renewable energy production, reducing fossil fuel use, and moving rapidly toward a gas-based economy in India.
The Prime Minister noted that the Indian government’s previous budgets have announced measures such as ethanol blending, PM KUSUM Yojana, incentives for solar manufacturing, rooftop solar schemes, coal gasification, and battery storage to support these pillars. He also mentioned the green credit for industries, PM Pranam Yojna for farmers, Gobardhan Yojna for villages, vehicle scrapping policy for cities, Green Hydrogen, and wetland conservation in this year’s budget.
According to the Prime Minister, these announcements lay the foundation for future generations and establish India as a leader in the global green energy market. He invited stakeholders from the energy world to invest in India, emphasizing the country’s commanding position in renewable energy and its track record of achieving renewable energy objectives ahead of schedule.
The Prime Minister highlighted India’s achievements in renewable energy, such as achieving 40% contributions from non-fossil fuels in installed electricity capacity nine years before the target date and 10% ethanol blending in petrol five months before the deadline. He urged investors to seize the opportunity of setting up ethanol plants in every corner of the country, noting the abundance of agri-waste in India.
The Prime Minister emphasized the potential of solar, wind, and biogas in India, saying it was no less than any gold mine or oil field for the private sector. He underlined that India aims to achieve a capacity of 500 GW by 2030 and urged stakeholders to join the government’s efforts to achieve this goal.
