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PM Modi Addresses Post-Budget Webinar on Green Growth Hosted by the Power Ministry

In his speech, the Prime Minister said that India’s commanding position in the renewable energy space will ensure a commensurate change in the world and the budget will play a key role in this.

February 23, 2023. By News Bureau

Prime Minister Narendra Modi addressed the first post-budget webinar on green growth, hosted by the Ministry of Power.

The webinar was a part of 12 post-budget webinars organized by the government to seek ideas and suggestions for the effective implementation of the initiatives announced in the Union Budget.

In his speech, Prime Minister Modi said that India’s commanding position in the renewable energy space will ensure a commensurate change in the world and the budget will play a key role in this. He outlines increasing the production of renewable energy, reducing the use of fossil fuel in the economy and moving towards a gas-based economy in the country as three pillars for green growth and energy transmission.

The Prime Minister informed that India has achieved the target of 40 percent contributions from non-fossil fuels in the installed electricity capacity and 10 percent ethanol blending in petrol before time.

Recalling the launch of E20 fuel, he noted the government’s emphasis on biofuels and said that it has brought new opportunities for investors. “The potential of solar, wind and biogas in India is no less than any gold mine or oil field for our private sector”, he affirms.

The Prime Minister said that under the National Green Hydrogen Mission, India is moving with a target of production of 5 MMT green hydrogen. He further said that India has the potential of producing 10 thousand million cubic metres of biogas from cow dung and 1.5 lakh cubic meter gas which can contribute up to 8 percent to the city gas distribution in the country.

Concluding the speech, the Prime Minister added that India has huge potential to lead the world when it comes to technology for green energy and emphasised that it will forward the cause of global good apart from generating green jobs.

Various stakeholders from state governments, industry, academia & research institutions and the public sector participated in the webinar and gave suggestions for better implementation of budgetary announcements.

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