Finance Minister Nirmala Sitharaman says that the government is committed to offering viability gap funding for the development of 1 GW of offshore wind energy

 The Union Budget 2024 lays out a robust framework for steering India towards a cleaner and more sustainable future, emphasizing the government’s commitment to environmental responsibility. Finance Minister Nirmala Sitharaman’s statement of viability gap funding for the development of 1 GW of offshore wind energy stands out as a significant move in this direction. Aligned with the national goal of achieving 500 GW of renewable energy capacity by 2030, this funding reflects a strategic step towards meeting the net-zero emissions target by 2070. Rooftop solar emerges as a central focus in the Budget, highlighting the active involvement of Indian citizens in the country’s energy transition. According to estimates by the Council on Energy, Environment Water (CEEW), the solarisation of 1 crore households will support 20–25 GW of rooftop solar capacity, showcasing a considerable contribution to sustainable energy initiatives.

The budget for 2024 underscores a commitment to inclusive growth and sustainable development, mapping out a roadmap to achieve the Nationally Determined Contributions (NDC) of Net Zero by 2070. Notable measures include the mandatory blending of Compressed Natural Gas (CNG), Piped Natural Gas (PNG)and Compressed Bio-Gas (CBG), along with financial assistance for biomass aggregation machinery, promoting sustainable agricultural practices.In addressing transportation and logistics, the budget allocates resources for the implementation of e-buses and metro systems, aiming to reduce the carbon footprint in public transportation. The introduction of three major railway corridors also seeks to enhance logistics efficiency, contributing to the overall goal of cleaner and greener practices in public and freight transport.

The Union Budget 2024 stands as a comprehensive testament to the government’s dedication to a sustainable future. By addressing the challenges of climate change and prioritizing inclusive growth, these measures signal a pivotal step towards building an environmentally responsible nation.