The Indian government is taking steps to provide every possible assistance to ensure green growth of the economy. While addressing the first post-budget webinar on Green Growth on Thursday through video conferencing, Prime Minister Narendra Modi said, every budget presented by this government since 2014 has been taking forward new age reforms to solve the present challenges.
This Budget will play an instrumental role in establishing the country as a lead player in the global green energy market. This will help in increasing the green jobs and ensuring global good.
Highlighting the initiatives taken by the government to ensure green growth and energy transition, Mr. Modi said, increasing the production of renewable energy, decreasing the use of fossil fuels and moving towards a gas based economy are the three pillars of the country’s priorities and strategies. He said, several important announcements including PM Kusum, rooftop solar scheme, incentives for solar panel manufacturing and battery storage were made in the Budgets since 2014.
Talking about initiatives taken in this year’s Budget, the Prime Minister said, several key announcements were made in the Budget regarding green growth which are the foundation stones for the bright future of the country’s future generations. He said, schemes and policy initiatives like PM Pranam, Gobardhan, and Vehicle Scrapping Policy will play a key role in shaping the future of the country.
The Prime Minister stressed that the more commanding position India will hold in renewable energy resources, the more change it can bring in the world.
India is the leading country in augmenting its renewable energy capacity in the major economies of the world since 2014.
He said, whatever the target country has set, it achieved well before the deadlines. He said, the country achieved a target of 40 percent of installed electricity capacity from non- fossil fuel nine years before the target. He urged the investors to come forward to invest in sectors like biofuel, agri-waste, biogas, green hydrogen, vehicle scrapping, battery storage and municipal solid waste terming the opportunities in the renewable energy sector as gold mines.
This news could be inspiring to other countries in a few different ways.
First, it could demonstrate the benefits of sustainable economic development. By prioritizing green growth, the country is positioning itself to reap the economic benefits of investing in renewable energy, energy efficiency, and other environmentally-friendly industries. This could inspire other countries to pursue similar policies and initiatives in order to strengthen their own economies.
Second, it could demonstrate leadership on a global issue. Climate change is a global challenge that requires coordinated action from all countries. By taking proactive steps to promote green growth, the country is demonstrating leadership and setting an example for others to follow.
Finally, it could foster international collaboration and cooperation. By sharing information and best practices with other countries, the country could help build a global community of nations that are working together to tackle the challenge of climate change. This could inspire other countries to join in these efforts and work collaboratively towards a more sustainable future.
Overall, a country’s commitment to green growth could be inspiring to other countries by demonstrating the benefits of sustainable economic development, fostering leadership on a global issue, and promoting international collaboration and cooperation.