Ad

Ad

In Budget 2023-2024 FM proposes Rs 19,700 crores for Green Hydrogen Fuel

By
Mohit Kumar
Mohit Kumar
|Updated on:01-Feb-2023 01:11 PM

Share via:


Follow Us:

google-news-follow-icon
noOfViews-icon

4,798 Views



ByMohit Kumar

Updated on:01-Feb-2023 01:11 PM

noOfViews-icon

4,798 Views

share-icon

Follow Us:

google-news-follow-icon

In order to meet India's climate pledge, the government prioritises green fuel while emphasising green growth under the Mission.

In Budget 2023-2024 FM proposes Rs 19,700 crores for Green Hydrogen Fuel

Finance Minister Nirmala Sitharaman stated in her Budget statement on February 1 that the recently established national Green Hydrogen Mission, with a budget of Rs 19,700 crore, will aid in the transition of the economy to a low-carbon intensity and lessen reliance on imports of fossil fuels.

"By 2030, we hope to have a 5 MMT annual production rate. The Ministry of Petroleum and Natural Gas will get a capital investment of Rs 35,000 crore to support the energy transition, the net zero objective, and energy security "FM stated.

According to FM Nirmala Sitharaman, the recently established National Green Hydrogen Mission, with a budget of 19,700 crores, will make it easier to shift the economy to one with a low carbon intensity and some reliance on imports of fossil fuels.

What do state-run businesses like Indian Oil Corporation Ltd, NTPC Ltd, GAIL India Ltd, conglomerates like Reliance Industries Ltd, Adani Group, Larsen & Toubro Ltd, and renewable energy firms like ReNew Power and ACME Group have in common?

Everyone wants to expand into green hydrogen

On July 4th, 2021, the "National Hydrogen Mission" was started by Prime Minister Narendra Modi from the Red Fort. The National Green Hydrogen Mission, with a total initial budget of Rs 19,744 crore, was authorised by the Union Cabinet on January 4.

Companies are already preparing for green hydrogen even though the first financial contribution to it has only recently been declared and the specifics of the programme have not yet been revealed.


Follow Us:

whatsapp-follow-icon
instagram-follow-icon
youtube-follow-icon
google-news-follow-icon

More News

Rolls-Royce Spectre Black Badge Launched in India at INR 9.50 Crore

Rolls-Royce Spectre Black Badge Launched in India at INR 9.50 Crore

Rolls-Royce launches the Spectre Black Badge in India at ₹9.50 crore, making it the most powerful production EV from the brand.

23-Jun-2025 07:29 AM

Read Full News
Rolls-Royce Spectre Black Badge Launched in India at INR 9.50 Crore

Rolls-Royce Spectre Black Badge Launched in India at INR 9.50 Crore

Rolls-Royce launches the Spectre Black Badge in India at ₹9.50 crore, making it the most powerful production EV from the brand.

23-Jun-2025 07:29 AM

Read Full News
BYD Atto 3 Crosses 1 Million Global Sales Milestone

BYD Atto 3 Crosses 1 Million Global Sales Milestone

BYD Atto 3 achieves over 10 lakh global sales in less than 4 years. The 2025 model year brings updates like ventilated seats and improved battery tech to India.

23-Jun-2025 03:35 AM

Read Full News
BYD Atto 3 Crosses 1 Million Global Sales Milestone

BYD Atto 3 Crosses 1 Million Global Sales Milestone

BYD Atto 3 achieves over 10 lakh global sales in less than 4 years. The 2025 model year brings updates like ventilated seats and improved battery tech to India.

23-Jun-2025 03:35 AM

Read Full News
Bajaj Offers ₹5,000 Discount on Freedom 125 Drum Variant to Boost Sales

Bajaj Offers ₹5,000 Discount on Freedom 125 Drum Variant to Boost Sales

Bajaj Auto slashes ₹5,000 off the base variant of the Freedom 125 CNG motorcycle, now priced at ₹85,976. The move aims to boost sales amid slowing demand in the commuter segment.

21-Jun-2025 07:11 AM

Read Full News
Bajaj Offers ₹5,000 Discount on Freedom 125 Drum Variant to Boost Sales

Bajaj Offers ₹5,000 Discount on Freedom 125 Drum Variant to Boost Sales

Bajaj Auto slashes ₹5,000 off the base variant of the Freedom 125 CNG motorcycle, now priced at ₹85,976. The move aims to boost sales amid slowing demand in the commuter segment.

21-Jun-2025 07:11 AM

Read Full News
Honda City Sport Launched at ₹14.88 Lakh: A Stylish Twist on the Iconic Sedan

Honda City Sport Launched at ₹14.88 Lakh: A Stylish Twist on the Iconic Sedan

Honda Cars India has introduced the limited-edition City Sport at ₹14.88 lakh, featuring sporty cosmetic upgrades, a premium black-red interior, Honda Sensing ADAS tech and more.

21-Jun-2025 03:53 AM

Read Full News
Honda City Sport Launched at ₹14.88 Lakh: A Stylish Twist on the Iconic Sedan

Honda City Sport Launched at ₹14.88 Lakh: A Stylish Twist on the Iconic Sedan

Honda Cars India has introduced the limited-edition City Sport at ₹14.88 lakh, featuring sporty cosmetic upgrades, a premium black-red interior, Honda Sensing ADAS tech and more.

21-Jun-2025 03:53 AM

Read Full News
KTM Restructuring Plan Approved by Austrian Court & New Operational Phase Begins

KTM Restructuring Plan Approved by Austrian Court & New Operational Phase Begins

KTM has received court approval for its restructuring plan, paving the way for a 30% creditor payout and a revamped manufacturing strategy under Pierer Mobility Group.

19-Jun-2025 07:31 AM

Read Full News
KTM Restructuring Plan Approved by Austrian Court & New Operational Phase Begins

KTM Restructuring Plan Approved by Austrian Court & New Operational Phase Begins

KTM has received court approval for its restructuring plan, paving the way for a 30% creditor payout and a revamped manufacturing strategy under Pierer Mobility Group.

19-Jun-2025 07:31 AM

Read Full News
Hero MotoCorp to Launch VIDA VX2 Electric Scooter on July 1, 2025

Hero MotoCorp to Launch VIDA VX2 Electric Scooter on July 1, 2025

Hero MotoCorp will launch the VIDA VX2 electric scooter on July 1, 2025. Positioned below the Vida V2 lineup, the VX2 debuts a Battery-as-a-Service (BaaS) model.

19-Jun-2025 03:48 AM

Read Full News
Hero MotoCorp to Launch VIDA VX2 Electric Scooter on July 1, 2025

Hero MotoCorp to Launch VIDA VX2 Electric Scooter on July 1, 2025

Hero MotoCorp will launch the VIDA VX2 electric scooter on July 1, 2025. Positioned below the Vida V2 lineup, the VX2 debuts a Battery-as-a-Service (BaaS) model.

19-Jun-2025 03:48 AM

Read Full News

Ad

Ad

Explore Other Cars Brands

Cars In India

Tata Harrier EV

Tata Harrier EV

₹ 21.49 - 27.05 Lakh

Volkswagen Golf GTI

Volkswagen Golf GTI

₹ 53.00 Lakh

Kia Carens Clavis

Kia Carens Clavis

₹ 11.50 - 21.50 Lakh

Tata Altroz

Tata Altroz

₹ 6.89 - 11.49 Lakh

Hyundai Stargazer

Hyundai Stargazer

₹ 9.60 - 17.00 Lakh

Mahindra XEV 7e

Mahindra XEV 7e

₹ 21.00 - 30.00 Lakh

MG Cyberster

MG Cyberster

₹ 60.00 - 70.00 Lakh

BMW M3 Facelift

BMW M3 Facelift

₹ 1.47 Cr

Ad

Ad

Ad