Govt aspires to realise its agenda of supporting energy transition and climate action
Govt aspires to realise its agenda of supporting energy transition and climate action

New Delhi: During the Amrit Kaal, the government aims to achieve the vision of promoting energy transition and climate action, said Union Minister for Finance and Corporate Affairs Nirmala Sitharaman in Parliament on Tuesday. She emphasised this vision by listing it as one of the country's top priorities moving forward.

She reaffirmed the Prime Minister's announcement of a low-carbon development strategy as an important indication of our government's strong commitment to sustainable development. This plan creates a lot of job chances, and the budget recommends a number of short- and long-term activities in this area.

The Finance Minister has suggested an increased allocation of Rs. 19,500 crore for the production of high-efficiency modules under the Production Linked Incentive. This would also assure the domestic manufacturing needed to meet the ambitious 2030 objective of 280 GW of solar capacity added.

Capacity creation and awareness for energy audits, performance contracts, and a standard measurement and verification process will be facilitated by establishing an Energy Service Company (ESCO) business model in large commercial buildings.

She also mentioned that four pilot projects for coal gasification and coal conversion into chemicals needed by the industry have been presented to develop technical and financial viability.

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