India Boosts Investment in Clean Energy with National Green Hydrogen Mission Funding Increase
Key Ideas
- Finance Minister Nirmala Sitharaman allocated Rs 600 crore to the National Green Hydrogen Mission in the Budget for FY26, doubling the previous year's funding.
- The Budget for 2025-26 reflects a significant increase in allocation towards new and renewable energy, emphasizing India's shift away from fossil fuels towards clean energy sources.
- Flagship schemes like PM Surya Ghar, Green Energy Corridors, and PM-KUSUM have received substantial funding boosts to promote clean energy generation and adoption across the country.
- The National Green Hydrogen Mission, aiming to establish India as a top green hydrogen producer and exporter, targets an annual production capacity of 5 million metric tons by 2030.
In a notable move to accelerate India's transition to clean energy, Finance Minister Nirmala Sitharaman announced a substantial increase in the allocation towards new and renewable energy in the Budget for 2025-26. The total allocation has been raised by Rs 9,251 crore to reach Rs 26,549 crore, reflecting a strategic shift towards reducing reliance on fossil fuels. The Budget emphasized flagship schemes like the PM Surya Ghar, Green Energy Corridors, and PM-KUSUM, which received significant funding enhancements to drive the adoption of clean energy solutions. Notably, the National Green Hydrogen Mission also saw a boost in funding, with Rs 600 crore allocated for FY26, a marked increase from the previous year. This funding increase aims to support India's ambition to become a leading producer and exporter of green hydrogen, with a target of achieving an annual production capacity of 5 million metric tons by 2030. The Budget's focus on clean energy initiatives underscores the government's commitment to sustainable development and environmental conservation, aligning with global efforts to combat climate change and promote renewable energy sources.
Topics
India
Green Hydrogen
Renewable Energy
Clean Energy
Solar Power
Economic Development
Government Initiatives
Budget Allocation
Rooftop Solar
Latest News
6
Unlocking the Potential of Green Hydrogen: Driving Economic Growth and Emissions Reduction in the UK
Infrastructure | 4 hours ago