Details of major schemes and the steps announced in the Union Budget 2023 aimed at promoting clean energy and sustainable living are given.

In line with the announcement made in the Union Budget 2023-24, the Ministry of Power has formulated a Scheme on Viability Gap Funding for development of Battery Energy Storage Systems with capacity of 4,000 MWh.

In the Union Budget 2023-24, customs duty exemption has been extended to import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles up to 31.03.2024.

      In addition to the measures announced in the Union Budget 2023-24, the major steps taken by the Government to accelerate the Indian economy’s transition to one powered by green energy are given.

Major schemes and the steps announced in the Union Budget 2023 aimed at promoting clean energy and sustainable living are given below:

• • The outlay of Rs. 19,700 crore for the Green Hydrogen Mission to facilitate transition of the economy to low carbon intensity, reduce dependence on fossil fuel imports, and make the country assume technology and market leadership in this sunrise sector. The target is to reach an annual production of 5 MMT by 2030.
  • The allocation of Rs. 35,000 crore for priority capital investments towards energy transition and net zero objectives, and energy security.
  • Viability gap funding for 4,000 MWh battery energy storage systems and formulation of a detailed framework for pump storage projects.
  • Investment of Rs. 20,700 crore including central support of Rs. 8,300 crore for strengthening of interstate transmission system for evacuation and Grid Integration of 13 GW renewable energy from Ladakh.
  • Notification of Green Credit Programme under the Environment (Protection) Act for encouraging behavioural change
  • “PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth” to promote alternative fertilizers and balanced use of chemical fertilizers.
  • 500 new ‘waste to wealth’ plants to be established under the new GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) scheme with a total investment of Rs 10,000 crore.
  • One crore farmers to be facilitated to adopt natural farming over the next 3 years. For this, 10,000 Bhartiya Prakritik Kheti Bio-Input Resource Centres to be set-up, creating a national-level distributed micro-fertilizer and pesticide manufacturing network.
  • ‘Mangrove Initiative for Shoreline Habitats & Tangible Incomes’, MISHTI, for mangrove plantation along the coastline and on salt pan lands, wherever feasible, through convergence between MGNREGS, CAMPA Fund and other sources.
  • Amrit Dharohar, scheme to encourage optimal use of wetlands, and enhance bio- diversity, carbon stock, eco-tourism opportunities and income generation for local communities.
  • Coastal shipping to be promoted as the energy efficient and lower cost mode of transport, both for passengers and freight, through PPP mode with viability gap funding.
  • Allocation of adequate funds to scrap old vehicles of the Central Government and support to States in replacing old vehicles and ambulances.

 

Major steps taken by the Government to accelerate the Indian economy’s transition to one powered by green energy include:

• Permitting Foreign Direct Investment (FDI) up to 100 percent under the automatic route for renewable energy projects

• Waiver of Inter State Transmission System (ISTS) charges for inter-state sale of solar and wind power for projects to be commissioned by 30th June 2025

• Declaration of trajectory for Renewable Purchase Obligation (RPO) up to the year 2030

• Setting up of Ultra Mega Renewable Energy Parks, to provide land and transmission to RE developers on a plug and play basis.

• Launch of Schemes such as Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM), Solar Rooftop Phase II, 12000 MW CPSU Scheme Phase II, etc.

• Laying of new transmission lines and creating new sub-station capacity under the Green Energy Corridor Scheme for evacuation of renewable power

• Transmission Plan for Integration of 500 GW Renewable Energy capacity by 2030.
• Notification of standards for deployment of solar photovoltaic system/devices,
• Setting up of Project Development Cell for attracting and facilitating investments,

• Standard Bidding Guidelines for tariff based competitive bidding process for procurement of Power from Grid Connected Solar PV and Wind Projects.

• Government has issued orders that power shall be dispatched against Letter of Credit (LC) or advance payment to ensure timely payment by distribution licensees to RE generators.

• Notification of Promoting Renewable Energy through Green Energy Open Access Rules 2022.

• Notification of “The electricity (Late Payment Surcharge and related matters) Rules 2022 (LPS rules).

• Launch of Green Term Ahead Market to facilitate sale of renewable energy power through exchanges.

This information was given by the Union Minister of New Renewable Energy Sh. R.K. Singh in the Lok Sabha Today.

*******

AM/DK

(Release ID: 1907698) Visitor Counter : 4029