Nirmala Sitharaman, in her 7th Union Budget presentation under the Modi 3.0 government, announced key initiatives for the energy sector. She highlighted the introduction of a pumped storage policy for electricity storage and integration of renewable energy. Additionally, research and development of small modular nuclear reactors and newer technologies for nuclear energy were unveiled.
Furthermore, a joint venture between NTPC and BHEL to establish an 800 MW commercial thermal plant using advanced ultra super critical technology is in progress. Sitharaman also mentioned the formulation of a roadmap for ‘hard to abate’ industries to transition to the ‘Indian Carbon Market’ mode. The budget includes plans for conducting energy audits of traditional micro and small industries in 60 clusters, with financial support for transitioning to cleaner forms of energy.
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Published on 23 July 2024, 07:15 IST