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2nd February 2023 (7 Topics)

Budget promoting Clean Energy

Context

In the Union Budget 2023-24, Green hydrogen, clean energy storage and transmission are the key drivers of the government’s “Green Growth” priority sector.

Key initiatives:

  • National Green Hydrogen mission: With an outlay of Rs. 19,700 crores, the mission will facilitate the transition of the economy to low carbon intensity, reduce dependence on fossil fuel imports and make the country assume technology and market leadership
  • Energy transition investment: The FM has announced an outlay of Rs 35,000 crore for energy transition investment.
  • Battery storage capacity: The government will support the setting up of a battery storage capacity of 4,000 MWH in India with viability gap funding. The aim is to touch green hydrogen production of 5 million tonnes by 2030.
  • Green credit programme: A green credit programme will be notified under the Environment Protection Act.
  • GOBARdhan scheme: 500 new ‘waste to wealth’ plants under GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) scheme will be established for promoting a circular economy.
    • CBG plants: These will include 200 compressed biogas (CBG) plants, including 75 plants in urban areas, and 300 community or cluster-based plants at a total investment of ` 10,000 crores.
    • 5% compressed biogas: The government plans to introduce a 5 per cent compressed biogas mandate for all entities marketing natural gas in India.
  • National apprenticeship scheme: To provide support to 47 lakh youths in 3 years, a Direct Benefit Transfer under a pan-India national apprenticeship scheme will be rolled out.

Schemes launched:

  • PM Vishwa Karma Kaushal Samman: PM Vishwa Karma Kaushal Samman-package of assistance for traditional artisans and craftspeople has been conceptualised, and will enable them to improve the quality, scale & reach of their products, integrating with the MSME value chain.
  • Free food scheme to continue till 2024: From January 1, 2023, a scheme to supply free food grain to all Antyodaya and priority households for one year under PM Garib Kalyan Ann Yojana is underway.
  • Pradhan Mantri Awas Yojana: The Budget 2023-24 allocated Rs 79,000 crore for the Pradhan Mantri AwasYojana (PMAY), giving a further boost to the government’s programme to provide housing to the urban poor.
  • MISHTI scheme: The government will take up mangrove plantations along the coastline under the new MISHTI scheme. The Mishti scheme is aimed at preserving mangroves.
  • Atmanirbhar Clean Plant Programme: The Rs 2,200 crore programme to improve the availability of disease-free, quality planting material for high-value horticultural crops will raise their cultivation area from a low 15%.
  • Pradhan Mantri Kaushal VikasYojana 4.0: The government will launch Pradhan Mantri Kaushal VikasYojana 4.0.
  • PM Azaz Yojana: The outlay for PM Azaz Yojana is being increased by 66% to over Rs 79,000 crore.
  • Amrit Dharohar: The scheme aims to encourage optimal use of wetlands, and enhance bio-diversity, carbon stock, eco-tourism opportunities and income generation for local communities.
  • National Apprenticeship Promotion Scheme: To provide stipend support to 47 lakh youth in three years, Direct Benefit Transfer under a pan-India National Apprenticeship Promotion Scheme will be rolled out.
  • National Financial Information Registry: It will be set up to serve as the central repository of financial and ancillary information. This will facilitate the efficient flow of credit, promote financial inclusion, and foster financial stability.
  • Azadi Ka Amrit Mahotsav Mahila Samman Bachat Patra: For commemorating Azadi Ka Amrit Mahotsav, a one-time new small savings scheme, Mahila Samman Savings Certificate, will be made available for a two-year period up to March 2025.
  • PM Vishwakarma KAushal Samman (PM VIKAS): It is a package of assistance for traditional artisans and craftspeople. This will greatly benefit the Scheduled Castes, Scheduled Tribes, OBCs, women and people belonging to the weaker sections.

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