New Delhi: When India focuses on decarbonizing the economy, the pitching industry for steps to encourage green mobility in the budget, along with the transition to the destination described by PM Narendra Modi as part of the UN COP26 climate agenda.
“The Union budget this year is a historic opportunity for the government to encourage the country’s net energy agenda as before.
This is the need for hours, especially if we want to install 450 gw renewable capacity in 2030.
This means we need to double our annual installation of around 16 gw At this time up to 30-40 gw, “said Suman Sinha, Chair and CEO, updating power, while throwing for aggressive promotion of battery storage and green hydrogen initiative.
Modi was present at COP26 in November last year committed to India to reach its non-fossil fuel energy capacity to 500 gw by 2030 and said 50% of the state’s electricity requirements would come from renewable energy.
In addition, PM also announced that the country would reduce the intensity of GDP emissions by 45% by 2030 (from the level of 2005) and achieved ‘zero zero’ emissions in 2070.
“Reducing tasks on their storage batteries almost fell 30% and helped industries Storage Finding His Feet Before Making Under PLI Scheme Kicks in a few years later , and the reduction of taxes and duties for equipment, will help reduce industrial -to-abate emissions such as fertilizers, steel, heavy transportation, and chemicals, “Sinha advice.
Industrial agencies such as CII are also looking for policies to promote circular economic principles, with incentives to producers and consumers, to produce and buy products with recycled content.
Similarly, the benefits for business models that promote product extensions for life through redesign, rediscan and reproduce, have also been suggested.
In addition, initiatives along with the private sector as part of an insulting initiative for India to develop 2.5-3 billion tons of carbon sinks and restore 26 million hectares of land in 2030 has also been proposed.
In addition, detailed discussions have been held in green mobility, where several steps have been announced in the past month.
Based on the McKinsey report, the industrial agency has identified several problems, with the charging station to the main focus area – from identifying land to problems with power distribution companies, preferential parking and related taxes.
Budget can provide a booster dose to meet climate objectives
