{"id":100410,"date":"2024-07-23T17:02:10","date_gmt":"2024-07-23T17:02:10","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/23\/budget24-25-highlights-policy-continuity-and-focus-on-climate-change-times-of-india\/"},"modified":"2024-07-23T17:02:11","modified_gmt":"2024-07-23T17:02:11","slug":"budget24-25-highlights-policy-continuity-and-focus-on-climate-change-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/07\/23\/budget24-25-highlights-policy-continuity-and-focus-on-climate-change-times-of-india\/","title":{"rendered":"Budget&#8217;24-25 highlights policy continuity and focus on climate change &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1280\" height=\"720\" src=\"https:\/\/i0.wp.com\/static.toiimg.com\/photo\/msid-111968029,imgsize-39046.cms?resize=1280,720&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Budget&#8217;24-25 highlights policy continuity and focus on climate change &#8211; Times of India\" title=\"Budget&#8217;24-25 highlights policy continuity and focus on climate change &#8211; Times of India\" \/><\/div>\n<div>In its first budget since the recent elections, the Indian government has emphasized <!-- -->policy continuity<!-- --> while addressing pressing issues such as <!-- -->climate change<!-- -->. The <!-- -->Budget 2024-25<!-- -->, presented by Finance Minister Nirmala Sitharaman, prioritizes climate and <!-- -->sustainability<!-- -->.<br \/>The total budget for this fiscal year is set at 48.21 lakh crore rupees, with total receipts (excluding borrowings) projected at 32.07 lakh crore rupees.Sitharaman&#8217;s budget speech highlighted plans to strengthen adaptation and manage loss and damage from extreme climate events.<br \/>Despite some gaps in details on carbon pricing and nuclear power, the budget focuses on building capacity for climate change mitigation, adaptation, and addressing loss and damage.<br \/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Key Budget Highlights:<\/span><br \/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Mitigation Efforts:<\/span><br \/>Critical Mineral Mission: Aims to enhance domestic production, recycling, and overseas acquisition of critical minerals necessary for strategic sectors.<br \/>PM Surya Ghar Muft Bijli Yojana: Allocates 6,250 crore rupees for installing rooftop solar plants for 1 crore households, providing free electricity up to 300 units per month.<br \/>Pumped Storage Projects: Promotes electricity storage to manage the variability of renewable energy.<br \/>Nuclear Energy Development: Plans to partner with the private sector to develop Bharat Small Reactors and Bharat Small Modular Reactors, along with R&amp;D for new nuclear technologies.<br \/>Advanced Ultra Super Critical Thermal Power Plants: A joint venture between NTPC and BHEL to set up an 800 MW commercial plant using AUSC technology.<br \/>Support for Traditional Industries: Financial aid for energy audits and cleaner energy transitions in 60 clusters of traditional micro and small industries.<br \/>Carbon Markets and Emission Targets: A roadmap for transitioning &#8216;hard to abate&#8217; industries to emission targets from energy efficiency targets.<br \/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Adaptation Initiatives:<\/span><br \/>Climate-Resilient Agriculture: Release of 109 high-yielding, climate-resilient crop varieties and support for 1 crore farmers adopting natural farming practices.<br \/>Digital Public Infrastructure for Agriculture: Implementation of a digital crop survey for Kharif in 400 districts and integration of 6 crore farmers and their lands into registries.<br \/>Taxonomy for Climate Finance: Development of a taxonomy to enhance capital availability for climate adaptation and mitigation.<br \/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Loss and Damage Measures:<\/span><br \/>Financial Support for Flood Management and Reconstruction: Provisions for states affected by floods, such as Bihar, Assam, Himachal Pradesh, Uttarakhand, and Sikkim.<br \/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Energy Sector Focus:<\/span><br \/>Energy Transition Policy Document: A policy document to balance employment, growth, and environmental sustainability.<br \/>PM Surya Ghar Muft Bijli Yojana: Over 1.28 crore registrations and 14 lakh applications received.<br \/>Pumped Storage Policy: For electricity storage and integration of renewable energy.<br \/>National Green Hydrogen Mission: Budget allocation increased to Rs 600 crore.<br \/>Customs Duty Adjustments: Exemptions for capital goods used in solar panel manufacturing and withdrawal of exemptions for solar glass and tinned copper interconnect.<br \/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Electric Vehicles and Automotive Sector:<\/span><br \/>Critical Mineral Mission: Exemption of 25 critical minerals from customs duties.<br \/>FAME Scheme: Budget estimate for 2024-25 set at Rs 2671.33 crore.<br \/>PLI Scheme for Automobiles and Auto Components: Budget estimate of Rs 3500 crore.<br \/>PLI Scheme for Advanced Chemistry Cell Battery Storage: Budget allocation of Rs 250 crore.<br \/><span class=\"strong\" data-ua-type=\"1\" onclick=\"stpPgtnAndPrvntDefault(event)\">Expert Reactions:<\/span><br \/>Aarti Khosla, Director, Climate Trends: Praised the budget for its significant allocations towards climate-resilient agriculture and renewable energy initiatives but noted the lack of timelines for important announcements on climate finance mechanisms.<br \/>Dr. Arunabha Ghosh, CEO, Council on Energy, Environment and Water (CEEW): Highlighted the budget\u2019s comprehensive approach to <!-- -->clean energy<!-- -->, sustainable agriculture, and critical minerals, emphasizing the importance of innovative financing for sustainability.<br \/>Suranjali Tandon, Associate Professor, National Institute of Public Finance and Policy: Welcomed the budget\u2019s focus on establishing a carbon market and taxonomy for climate finance as essential steps towards achieving Net Zero by 2070.<br \/>Rishabh Jain, Senior Programme Lead, CEEW: Commended the announcement of the Critical Mineral Mission, highlighting its importance for India\u2019s energy transition and strategic sectors.<br \/>Dr. Anjal Prakash, Associate Professor and Research Director, Bharti Institute of Public Policy at ISB: Appreciated the budget\u2019s focus on climate finance taxonomy, climate-resilient agriculture, and digital public infrastructure for farming.<br \/>Neshwin Rodrigues, Electricity Policy Analyst &#8211; India, Ember: Noted the budget&#8217;s alignment with interim measures and significant investments in renewable energy, while stressing the need to reduce reliance on thermal power.<br \/>Girish Tanti, Chairman, Global Wind Energy Council, India: Applauded India\u2019s leadership in combating climate change and fostering renewable energy investments.<br \/>The budget 2024-25 underscores India\u2019s commitment to sustainable development, with a comprehensive approach to energy transition, climate adaptation, and mitigation. The world\u2019s fifth-largest economy aims to balance growth, employment, and environmental sustainability, setting a precedent for other nations.<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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The Budget 2024-25, presented by Finance Minister Nirmala Sitharaman, prioritizes climate and sustainability.The total budget for this fiscal year is set at 48.21 lakh crore rupees, with total receipts (excluding borrowings) projected [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":100411,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/photo\/msid-111968029,imgsize-39046.cms","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[84272,84273,289,487,44228,486,5418,62527,5711,5360,273,505,62531,23084,272],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/100410"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=100410"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/100410\/revisions"}],"predecessor-version":[{"id":100412,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/100410\/revisions\/100412"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/100411"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=100410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=100410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=100410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}