Union Budget reaction quote 2023 by Mr. Gautam Mohanka, Managing Director, Gautam Solar – EQ Mag

Union Budget Reaction quote on Energy – “For reaching our goal of net zero carbon emission by 2070, Green Growth has been made one of the 7 priorities of this year’s budget. The government is implementing various programs for green growth which will help reduce carbon intensity and create green jobs. The Rs. 35000 crores capital investment for achieving energy transition and net zero objective and energy security by Ministry of petroleum and natural gas will help the country’s goal of decreasing the share of fossil fuels and increase the share of renewable energy.

The Finance Minister highlighted National Green Hydrogen Mission with outlay of 19000 crore to help achieve annual production target of 5 MMT by 2030 for facilitating the net-zero target. The government highlighted Green credit Program under the Environment (Protection) Act to incentivize sustainable actions which is a net positive for the renewable energy industry. Promotion of Battery energy storage systems by Viability Gap funding of capacity 4000 MWh and extending exemption on machinery for production of Li-Ion battery manufacturing will further increase India’s domestic production capacity.” said Mr. Gautam Mohanka, Managing Director, Gautam Solar