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Dear readers,
Welcome to the Climate Weekly newsletter by the Centre for Science and Environment’s Climate Change programme and Down to Earth.
India's Finance Minister, Nirmala Sitharaman, unveiled the interim Union Budget 2024-25 on February 1, 2024. Presented in an election year, the budget was restrained, avoiding any high-flown announcements. Fizza Zaidi and I analyzed the budget's relevant announcements for climate and energy policy. Building on the recently announced PM Suryodaya Yojana for household rooftop solarization, the Finance Minister announced a plan to include 10 million houses in the rooftop solar scheme, enabling them to receive 300 units of free electricity monthly. Binit Das of CSE's Renewable Energy Programme discusses why the announcement lacks appeal.
On scheme-specific allocation, the budget announced for grid-based solar power increased significantly from INR 4,757 crore to INR 10,000 crore, while wind power saw a modest rise from INR 916 crores in 2023-24 to INR 930 crores in 2024-25. The budget also includes viability gap funding for an initial 1-gigawatt capacity in offshore wind energy. Regarding other noteworthy allocations and announcements, the National Green Hydrogen Mission received INR 600 crore, up from INR 100 crore in 2023-24. On climate resilience, the budget announces a scheme for restoration, adaptation, coastal aquaculture, and mariculture. However, specific details and budgetary allocations for this initiative were not provided. As for ministry-specific allocations, the Ministry of Environment, Forest and Climate Change received a higher budget estimate of INR 3,265.53 crore compared to INR 3,079.4 crore in the previous fiscal year. Additionally, the budget estimate for the Ministry of New and Renewable Energy increased to INR 12,850 crore from INR 10,222 crore.
Do read CSE’s Director-General, Sunita Narain’s editorial on the need for India to define green and low-carbon cement.
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By - Trishant Dev
Climate Change, CSE
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| EXTREME WEATHER TRACKER |
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Ice storms, January downpours, heavy snow, no snow: Diagnosing ‘warming winter syndrome’, 26 January 2024
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CLIMATE NEWS | SCIENCE| IMPACTS| POLITICS |
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| Anil Agarwal Dialogue |
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Webinar |
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