Union Budget 2023-24 has everything required for the energy transition. Regarding green growth, India is implementing many programmes like green fuel, green jobs, green energy, green farming and policies, etc., for efficient economic growth. Therefore, with India moving towards net-zero emissions, renewable energy in union budgets is expected to find much more significant space.
The Union Budget 2023-24 highlights w.r.t. energy sector
The Union Budget 2023-24 was announced in February 2023. Union budgets are one of the essential benchmarks to understand the progress or direction of any sector. So, the highlights concerning the energy sector are below.
- Finance Minister proposed a push in the green sector. India is striving to accelerate decarbonization and will prioritize developing green jobs.
- Rs 10,222 crore was assign to the Ministry of New and Renewable Energy as part of the 2023 budget. The outlay is an increase of 48 per cent over last year’s allocation of Rs 6,900.68 crore.
- Also, the government intends to reduce the country’s estimated total carbon emissions by 1 billion tonnes by the decade’s end.
- National Green Hydrogen Mission, with an allocation of Rs 19,700 crore, will facilitate the economy’s transition and reduce dependence on fossil fuel imports.
- Rs 35,000 crore was assign for priority capital investment for energy transition, security and net-zero carbon emissions target by 2070.
Considering the importance of green growth, Steamax has been working in biomass technology. Our team has more than 22 years of experience in biomass. With the growing movement towards sustainable development and government regulations, we help industries transition towards sustainable and environment-friendly alternatives.
Our Expertise includes the following:
- We are delivering durable and customized clean biomass fuel “Astillas”. Hence, we will ensure the timely delivery of quality fuel in the required quantity.
- Steamax has a team of qualified, Competent Workforce. We provide services for facilities like boilers, heaters, hot air generators, burners etc.
- We will solely take all the responsibilities and provide operational support, after-sales services and maintenance.
- Our types of equipment are designe to meet the heating requirements of the industry. With a detailed explanation of every piece of equipment, CLICK HERE to know more.
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