Carbon capture can complement renewables in India’s energy transition towards a greener and cleaner future, says Atanu Mukherjee.
The first budget of the ‘Amrit Kaal’, presented by Finance Minister Nirmala Sitharaman, has reaffirmed the commitment of India in its fight against climate change. The seven pillars of Amrit Kaal or the ‘Saptarshi’ has laid the fine print for ‘India@100’, which has touched every strata of society.
Taking a leaf out of Prime Minister Narendra Modi’s clarion call for “LiFE”, or Lifestyle for Environment, the budget has prioritised ‘Green Growth’, as part of ‘Saptarshi’, paving the way for a greener and cleaner India. The budget has clearly defined the roadmap for India’s journey towards net zero by 2070 and has provided a major boost towards achieving the target of 50% power generation through renewables.
The allocation of Rs 35,000 crore towards energy transition and net zero objectives in the budget is a clear indication of how India intends to take the lead to combat climate change. The move also emphasises the significance of decarbonisation and net zero, the biggest threat to our planet.
The climate threat is global and knows no boundaries, and mankind is looking for realistic and implementable solutions to address the issue of limiting future temperature rise to within 1.5 to 2 degrees celsius from pre-industrial levels. The Finance Minister has done her best by taking pragmatic steps, including duty rationalisation and adequate funding, that underline India’s determination to adequate funding, that underline India’s determination to achieve energy transition and attain the goal of reaching net zero emission by 2070.