Nirmala Sitharaman, Finance Minister of India presented financial assistance to promote procurement of biomass schemes during the 2024 budget which will lead India towards a greener and sustainable path. Moreover, the government of India has focused on the blending of CNG and CBG with better utilization of the blend in Indian households which will further promote the transition of the country towards energy security.
According to Gaurav Kedia, Chairman of the Indian Biogas Association, the government's commitment to developed nations will promote better research towards a greener future.
Here are some of the sectors that India is going to focus on in the coming years for a better, greener, and prosperous future.
Tourism
The finance minister of India announced that all the states of the country will be encouraged to develop potential tourist attractions and take marketing to a global scale. Proper interest-free loans will be provided for long-term developments in the tourism sector. Projects for infrastructure advancement, port connectivity, and provision of better amenities on the islands of India will be promoted properly. This will create more jobs which will result in better employment.
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Electricity
With the help of roof-top installation of solar panels, 10 million households will be able to enjoy 300 units of free electricity and energy every month. The financial minister said that this scheme is the result of the resolve of the Prime Minister of India on the historic day of Shri Ram Mandir's consecration in Ayodhya. With this scheme in place, households will be able to save 15K to 18K per year with free solar energy and the rest surplus will be distributed to the companies.
Green Energy
India aims to achieve net zero by the year 2070. Nirmala Sitharama announced several measures to meet his aim. Funding support will be offered to bridge the viability gap in harnessing the initial one-gigawatt capacity of offshore wind energy potential. A coal gasification and liquefaction of 100MT capacity will be developed and set up by the year 2030 which will help in the overall reduction of imports of methanol, ammonia, and natural gas.
Proper financial assistance will be given for the acquisition of suitable machinery for biomass aggregation to support ample collection.
Technology
Modern technologies are revamping all the sectors globally and India is all set to harness their power to rise and shine. The finance minister accounted for a corpus of 1 lac crore that will offer financing and re-financing on a long-term basis with zero or low-interest rates. The step is taken by the Indian government to encourage the companies in the private sector to elevate their R&D sector to grab new opportunities in the technology sector.
Education
In her budget presentation, Finance Minister Nirmala Sitharaman highlighted the government's commitment to transforming India's education sector. A significant portion of the budget has been allocated to enhance the quality of education and promote innovation. Special focus will be placed on bridging the digital divide, ensuring access to online learning resources, and upgrading school infrastructure. Furthermore, the government aims to establish more world-class universities and research institutions to nurture talent and drive technological advancements. This investment in education will not only empower the youth with the skills needed for the future but also contribute to India's journey towards becoming a developed nation by 2047.
Healthcare
Recognizing the importance of a robust healthcare system, the Indian government has earmarked substantial resources in the 2024 budget for the improvement and expansion of healthcare services. The goal is to create a comprehensive and accessible healthcare ecosystem that caters to the needs of all citizens. This includes investments in upgrading hospitals, expanding the reach of telemedicine services, and boosting healthcare infrastructure in rural areas. Moreover, research and development in the pharmaceutical and biotechnology sectors will be incentivized to foster innovation and reduce healthcare costs. By prioritizing healthcare, India aims to enhance the well-being of its citizens and ensure a healthier and more prosperous future as it progresses towards developed nation status by 2047.
