Breaking News
1. Congress in Kerala scrambles to stay clear of Shashi Tharoor’s controversial article on Emergency      2. Air India plane crash probe panel denies filing initial report, says findings to be made public by July 12      3. UK or France? Cabinet waits for DRDO on combat aircraft engine      4. Axiom-4 mission : Group Captain Shubhanshu Shukla’s stay in ISS extended, NASA says crew to undock on July 14      5. Continue, consider inclusion of Aadhaar, voter ID, ration cards: SC to EC on Bihar roll revision      6. Trump puts 35% tariff on Canada from August 1, eyes 15%-20% tariffs for others      7. Supreme Court Bench headed by Justice Dhulia to hear Bihar electoral roll revision case on July 10      8. Stock Market News, July 9, 2025: Trump Says 50% Tariff on Brazil Coming; Nasdaq Rises to Record      9. 11 killed as vehicles plunge into river after Gambhira bridge collapse in Vadodara      10. Seeking ties, not competition with Africa: PM Modi in Namibia      11. Delhi Tremors As 4.4 Earthquake Hits Haryana, Many Say 'Longest In Life'      12. Donald Trump slaps fresh tariffs on 14 nations, 40% on Myanmar and Laos      13. Explosive for Pulwama attack bought via e-commerce platform: Global terror watchdog      14. PM Modi conferred with Brazil's highest civilian award, says ‘moment of immense pride and emotion’      15. Bharat Bandh on 9 July 2025: Over 25 crore workers to go on strike — Are banks, schools, colleges open today?      16. As Trump warns BRICS, China, Russia say group doesn’t target anyone      17. Bharat Bandh: Over 25 crore workers expected to participate, public services likely to be hit on Wednesday      18. Netanyahu nominates Trump for Nobel Peace Prize      19. "Close To Making Deal With India": Trump As He Slaps Tariffs On 14 Countries      20. India will give a ‘new form’ to BRICS grouping in 2026: PM Modi     

Budget 2024 Unveiled: Finance Minister Explores 'Panchamrit' Goals and Their Significance

  • Posted on February 1, 2024
  • Business
  • By Arijit Dutta
  • 375 Views

Finance Minister Nirmala Sitharaman unveils Budget 2024, highlighting India's commitment to 'Panchamrit' goals for sustainable economic growth and environmental practices. Key measures include offshore wind energy funding, coal capacity, and biogas blending, aligning with the 'net-zero' commitment by 2070. The roadmap signifies a significant leap towards a greener and resource-efficient future.

Budget 2024 Unveiled: Finance Minister Explores 'Panchamrit' Goals and Their Significance Image Source -www.energy.economictimes.indiatimes.com

In a groundbreaking move during the presentation of the interim Budget, Finance Minister Nirmala Sitharaman shed light on the government's unwavering commitment to the 'Panchamrit' goals. The Finance Minister, while elucidating the roadmap, underscored the imperative need for sustaining high and resource-efficient economic growth.

Aligning with the 'Panchamrit' goals, the government aims to foster economic growth that is both sustainable and resource-efficient. Sitharaman emphasized the trifecta of energy security: availability, accessibility, and affordability. These pivotal pillars will form the cornerstone for achieving the 'net-zero' target by 2070, a commitment announced by Prime Minister Narendra Modi at the COP26 climate summit in 2021.

To realize these ambitious goals, a comprehensive set of measures has been outlined. Noteworthy initiatives include providing viability gap funding to tap into offshore wind energy, establishing coal gasification and liquefaction capacity amounting to 100 MT by 2030, introducing phased mandatory blending of compressed biogas with compressed natural gas for transport, and offering financial assistance for biomass aggregation machinery.

The 'Panchamrit' goals, a five-point agenda, entail augmenting non-fossil fuel energy capacity, meeting 50% of energy requirements through renewable sources, reducing overall carbon emissions, diminishing the carbon intensity of the economy, and achieving net-zero emissions by 2070. These goals, announced by Prime Minister Modi, encapsulate India's commitment to fostering sustainable environmental practices.

Also Read: Garena Free Fire Max Presents Exclusive Redeem Codes For February 1, 2024

In her budget speech, Sitharaman unveiled strategic measures in line with India's 'net-zero' commitment. These encompass providing gap funding to harness offshore wind energy potential, establishing coal gasification and liquefaction capacity, mandating phased blending of compressed biogas with compressed natural gas, and extending financial aid for biomass aggregation machinery. These initiatives aim to bolster the collection of biomass and further expand the electric vehicle ecosystem.

Author
No Image
Author
Arijit Dutta

You May Also Like