Climate action and sustainability have been a key topic of discussion as well as implementation, especially in the last year, not just in the country but on various global platforms as well such as the G20, World Economic Forum, etc.

Green growth also received a big push in the FY24 Union Budget, presented by Finance Minister Nirmala Sitharaman in Parliament today. Here are the top 15 highlights:

Focus on green growth, moving towards net-zero carbon emission targets by 2070

Allocation of Rs 19,700 crore in National Green Hydrogen Mission will facilitate transition into low-carbon intensity and green economy

Target for the hydrogen mission is to reach annual production of 5 million metric tonne (MMT) by 2030

Rs 35,000 crore allocated for priority investment towards energy transition, net-zero objective

Battery energy storage systems with capacity of 4,000 MWh will be supported with viability gap funding

Framework for pump storage projects announced.

Inter-state transmission system for evacuation, grid integration of 13 GW of renewable energy from Ladakh to be constructed with investment of Rs 20,700 crore.

Also Read: Budget 2023 | FM announces Rs 35,000 crore for energy transition and net-zero carbon emission target

Green credit programme to be notified under the Environment Protection Act for responsive actions by individuals and companies to encourage environment-friendly behaviour.

PM program for Restoration, Awareness, Nourishment and Amelioration of Mother Earth (PM-PRANAM) to be launched to promote alternative fertilisers and balanced use of chemical fertilisers.

500 new waste to wealth plans under the Govardhan scheme announced to promote a circular economy

One crore farmers to be facilitated to adopt natural farming

Building on India's success in afforestation, the FM announced the Mangrove Initiative for Shoreline Habitats and Tangible Incomes (MISHTI)

Government to promote conservation values through the Amrit Darohar scheme that will be implemented to encourage optimal use of wetlands, enhance eco-tourism and income generation for local communities.

Coastal shipping to be promoted as an energy-efficient and lower cost mode of transport via the public-private partnership (PPP) model.

The Finance Minister also announced that the replacing of old polluting vehicles is an important part of greening the economy. Adequate funds would be allocated to scrap old vehicles of the Central and state governments as well ambulances.

Also Read: Budget 2023: Environment ministry allocated Rs 3,079 crore for FY24

To watch full Union Budget 2023 speech, click here