{"id":225078,"date":"2023-02-04T20:50:29","date_gmt":"2023-02-04T15:20:29","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=225078"},"modified":"2023-02-20T14:32:35","modified_gmt":"2023-02-20T09:02:35","slug":"going-green-the-budget-can-help-india-transition-out-of-its-dependence-on-fossil-fuels","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/going-green-the-budget-can-help-india-transition-out-of-its-dependence-on-fossil-fuels\/","title":{"rendered":"Going green &#8211; The Budget can help India transition out of its dependence on fossil fuels"},"content":{"rendered":"\n<p><strong>Source<\/strong>: The post is based on the article\u00a0<strong>\u201cGoing green &#8211; The Budget can help India transition out of its dependence on fossil fuels\u201d <\/strong>published in <b>The Hindu <\/b>on <b>4th February 2023<\/b>.<\/p>\n<p><strong>Syllabus<\/strong>: GS 3 \u2013 Energy.<\/p>\n<p><strong>Relevance<\/strong>: About green initiatives in budget 2023-24.<\/p>\n<p><strong>News<\/strong>: In the recent budget highlighted the government\u2019s commitment to move towards net-zero carbon emission by 2070.<\/p>\n<h2><strong>What are the major green initiatives in budget 2023-24?<\/strong><\/h2>\n<table style=\"border-collapse: collapse; width: 100%;\">\n<tbody>\n<tr>\n<td style=\"width: 100%;\"><strong>Read here: <a href=\"https:\/\/forumias.com\/blog\/major-thrust-planned-for-green-energy\/\" target=\"_blank\" rel=\"noopener\">Major thrust planned for green energy<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><strong>What is the rationale behind the announced green initiatives in budget 2023-24?<\/strong><\/h2>\n<p><strong>Inter-State transmission system for the grid integration of renewable energy from Ladakh<\/strong>: With its vast stretches of barren land and one of the country\u2019s highest levels of sunlight availability, Ladakh is considered an ideal location to site photovoltaic arrays for producing a substantial capacity of solar power.<\/p>\n<p>The transmission line will address the hurdle in setting up solar capacity in the region.<\/p>\n<p><strong>Viability gap funding for battery energy storage systems<\/strong>: Energy storage systems are crucial in power grid stabilisation and essential as India increases its reliance on alternative sources of power generation including solar and wind.<\/p>\n<p><strong> Exemption of customs duty on the import of capital goods and machinery required to manufacture lithium-ion cells<\/strong>: With the electric vehicle (EV) revolution poised to take off, the availability of indigenously produced lithium-ion batteries have become a necessity, especially to lower the cost of EVs.<\/p>\n<h2><strong>Why India&#8217;s green initiatives in budget 2023-24 is essential?<\/strong><\/h2>\n<p><strong>a)<\/strong> India holds the key to hitting global climate change targets given its sizeable and growing energy needs, <strong>b)<\/strong> With the country\u2019s population set to overtake China\u2019s this year, India\u2019s need for energy is set to surge exponentially, and <strong>c)<\/strong> The energy transition is urgent to leverage new industries, generate jobs on a sizeable scale, and add to overall economic output.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article\u00a0\u201cGoing green &#8211; The Budget can help India transition out of its dependence on fossil fuels\u201d published in The Hindu on 4th February 2023. Syllabus: GS 3 \u2013 Energy. Relevance: About green initiatives in budget 2023-24. News: In the recent budget highlighted the government\u2019s commitment to move towards&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/going-green-the-budget-can-help-india-transition-out-of-its-dependence-on-fossil-fuels\/\">Continue reading <span class=\"screen-reader-text\">Going green &#8211; The Budget can help India transition out of its dependence on fossil fuels<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[212,10498],"class_list":["post-225078","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-gs-paper-2","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/225078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=225078"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/225078\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=225078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=225078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=225078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}