Budget 2024: Key takeaways from FE Sitharaman's speech for energy

Feb 01, 2024 Abhishek Yadav

Finance Minister Nirmala Sitharaman on Thursday announced the interim budget 2024.

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Towards meeting our commitment to ‘net zero’ by 2070, the following measures will be taken.

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Viability gap funding will be provided for harnessing offshore wind energy potential for the initial capacity of one giga-watt.

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A coal gasification and liquefaction capacity of 100 MT will be set up by 2030. This will also help in reducing imports of natural gas, methanol, and ammonia.

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Phased mandatory blending of compressed biogas (CBG) in compressed natural gas (CNG) for transport and piped natural gas (PNG) for domestic purposes will be mandated.

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Financial assistance will be provided for the procurement of biomass aggregation machinery to support collection.

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