Budget a framework for restoring land resources: IORA

New Delhi (India), February 8: The Budget for 2023-24 continues the trend of the past few years of incremental announcements on “green priorities” and is a milestone in the country’s journey towards a net zero target by 2070. Union finance minister Nirmala Sitaraman announced green growth as one of the government’s key pillars for development.   […]

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Budget a framework for restoring land resources: IORA
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8 Feb 2023
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Budget a framework for restoring land resources: IORA

New Delhi (India), February 8: The Budget for 2023-24 continues the trend of the past few years of incremental announcements on “green priorities” and is a milestone in the country’s journey towards a net zero target by 2070. Union finance minister Nirmala Sitaraman announced green growth as one of the government’s key pillars for development.  

Much of the government’s focus on green growth continues to be towards transitioning to green energy with a priority capital investment of Rs 35,000 crore towards green energy transition and energy security.  Additionally, Rs 19,700 crore has been allocated for the Green Hydrogen Mission for low carbon transition.

The budget for the first time has created a clear framework for promoting greener practices in Indian agriculture and restoring degraded lands as a key aspect of India’s sustainable development roadmap. The FM has announced a bouquet of initiatives from restoring wetlands, mangroves, and degraded agricultural lands to green credit.  

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