Climate action takes centre stage in Union Budget: More Intent, Less Money

Budget falls short of making significant budgetary allocation to key sectors of energy efficiency, sustainability and clean tech

The first Union Budget since India joined the bandwagon of economies committed to becoming net carbon zero, focused on energy transition and climate action. However, it fell short of making significant budgetary allocation to key sectors of energy efficiency, sustainability and clean tech.

Identifying that the “risks of climate change are the strongest negative externalities that affect India and other countries”, the finance minister Nirmala Sitharaman laid emphasis on energy transition and climate action.

In order to tap the interest of investors in the growing green energy space, the finance minister said¸ sovereign Green Bonds will be issued for mobilizing