February 25, 2022 7:42 PM

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Union Budget 2022-23 provides roadmap for clean energy and climate mitigation

Union Budget 2022-23  provides a roadmap for clean energy and climate mitigation. India has time and again shown its commitment to environmental stewardship, climate action and focus on renewables to decarbonise the way the country operates. Prime Minister, Narendra Modi, as a part of the national statement delivered at the 26th Conference of the Parties (COP 26) in Glasgow in November last year announced five bold and ambitious targets to be achieved to enable further reduction in emissions.<br />'' <br />'' The landmark net-zero commitment by 2070 was among the five new climate change targets announced by the Prime Minister. Net-zero means removing as many emissions of carbon dioxide from the atmosphere as produced. The provisions relating to climate in the Union Budget 2022-23 are a reflection of India's commitment to achieve the target of net-zero carbon emissions by 2070.<br />'' <br />'' Finance Minister, Nirmala Sitharaman in her Budget speech said the risks of climate change are the strongest negative externalities that affect India and other countries. She reiterated the low carbon development strategy, announced by the Prime Minister, as an important reflection of Government of India's strong commitment towards sustainable development.<br />'' <br />''The Ministry of Environment, Forests and Climate Change received a total allocation of 3 thousand 30 crore rupees as compared to last year's allocations of around 2 thousand 870 crore rupees. Of the total budgetary provisions, 460 crores has been allotted towards control of pollution which is a sizeable amount.<br />

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