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By Vivek Saini
Union Finance Minister Nirmala Sitharaman introduced a wide-ranging array of initiatives as she tabled the Union Budget for 2024-2025, marking a pivotal moment in India’s environmental and sustainable development strategy, reflecting ambitious green initiatives and areas that warrant closer scrutiny. As the nation grapples with the dual challenges of climate change and rapid economic growth, this year’s budget offers a detailed blueprint for integrating environmental considerations into economic planning. The budget underscores the government’s commitment to fostering a greener future with substantial investments to promote renewable energy, advance bio-based agriculture, and enhance pollution control. However, while the increased allocations signal a forward-thinking approach, the effectiveness of these measures in addressing urgent environmental issues remains to be seen.
1. Encouraging Sustainable Agricultural Practices
Sustainable Practices in Agriculture: Various schemes have been introduced to encourage sustainable agricultural practices, including using renewable energy in farming and adopting water-efficient irrigation techniques. These practices aim to reduce agriculture’s carbon footprint, conserve water resources, and enhance the productivity and resilience of farming systems. By promoting sustainable agriculture, the government seeks to ensure food security while protecting the environment.
2. Promoting Bio-Based Agriculture
Support for Bio-Based Agriculture: The budget includes measures to promote bio-based agriculture, encouraging organic farming practices to reduce the environmental impact of agriculture and improve soil health. Bio-based agriculture uses natural inputs and processes, such as composting, crop rotation, and biological pest control, to enhance soil fertility and reduce reliance on chemical fertilisers and pesticides. This approach benefits the environment and improves the sustainability and resilience of agricultural systems.
3. Boosting Renewable Energy
Renewable Energy Initiatives: The budget proposes a 25.71% increase in the Ministry of New and Renewable Energy’s budget to ₹128.5 billion. This substantial increase, including enhanced funding for solar power projects and other renewable energy initiatives, is a beacon of hope for expanding solar and wind energy capacities, developing energy storage solutions, and promoting decentralised renewable energy systems. These efforts are essential to reducing dependence on fossil fuels and transitioning to a sustainable energy future.
4. Promoting Green Hydrogen
National Green Hydrogen Mission: With an allocation of ₹600 crore for 2024-25, the National Green Hydrogen Mission is set to promote green hydrogen as a clean energy source. This marks a significant increase from the previous year’s ₹100 crore. Green hydrogen, produced using renewable energy sources, is not just a mission but a critical and urgent step in achieving India’s net-zero emissions target by 2070. The mission aims to develop the necessary infrastructure, research, and development to make green hydrogen a viable and scalable energy solution.
5. Enhanced Budget for Environmental Conservation
Allocation to the Ministry of Environment, Forest and Climate Change: The Ministry, a key player in environmental conservation and pollution control, has been allocated ₹3330.37 crore. This funding supports various schemes and projects aimed at environmental conservation, including afforestation, wildlife conservation, and the management of natural resources. Additionally, it funds efforts to combat air and water pollution, ensuring a healthier environment for all citizens.
6. Strengthening Pollution Control
Pollution Control Measures: The budget has increased the allocation for pollution control to ₹858.5 crore, up from ₹756 crore in the previous fiscal year. This significant increase demonstrates the government’s commitment to reducing pollution nationwide. The funding will support various initiatives, including implementing stricter emission standards, promoting cleaner technologies, and enhancing monitoring and enforcement mechanisms. These measures aim to improve air and water quality, benefiting public health and the environment.
7. Climate Finance and Green Transition
Climate Finance Taxonomy: The government will develop a taxonomy for climate finance to enhance the availability of capital for climate adaptation and mitigation. This initiative supports India’s climate commitments and facilitates a green transition. By defining what qualifies as climate finance, the taxonomy will help attract investments into sustainable projects, ensuring that funds are directed towards activities that genuinely contribute to reducing greenhouse gas emissions and building climate resilience.
8. Expanding Green India Mission
National Mission for a Green India: The mission has been allocated ₹220 crore, up from ₹160 crore in the previous year. This mission focuses on increasing forest and tree cover to enhance carbon sequestration. It includes activities such as afforestation, reforestation, and the restoration of degraded ecosystems. The mission aims to absorb more atmospheric carbon dioxide by increasing green cover, contributing to climate change mitigation and biodiversity conservation.
9. Ensuring Energy Transition and Security
Energy Transition and Security: The budget highlights the importance of energy security and transition, focusing on developing new nuclear energy technologies and building small modular reactors. These technologies are seen as crucial for providing reliable and low-carbon energy. The budget also emphasises the need for innovation and investment in energy storage, grid modernisation, and intelligent energy systems to support the transition to a sustainable and resilient energy future.
10. Addressing Hard-to-Abate Sectors
Roadmap for Hard-to-Abate Sectors: A roadmap will be prepared for sectors like shipping, aviation, iron and steel, and chemicals to move from energy efficiency targets to emissions targets. These sectors are known for their high greenhouse gas emissions and are challenging to decarbonise. The roadmap will outline strategies and technologies to reduce emissions, such as adopting cleaner fuels, improving energy efficiency, and implementing carbon capture and storage solutions.
References:
https://pib.gov.in/PressReleseDetailm.aspx?PRID=2035698
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