Green Budget— Green Growth

April 28, 2023
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Budget 2023 clearly underlines India’s Green Budget towards Green Growth. India’s National determined contribution (NDC) to fight climate changes is heading towards a long term goal of net zero emission by 2070. The Government's focus on energy transition is expected to fuel “green growth” in the coming years. Green growth is listed among the four opportunities of transformative India by 2047-the country's 100th year of independence. To achieve this goal,many programs are lined up; a few amongst them are green fuel, green energy, green mobility, green farming, green building, and green equipment for policies and energies across the economic sector.

India is facing the criticality of depleting natural resources, limited supply of water, mineral, and fossil fuels by surpassing China as the most populated country hence the government has accelerated the pace of green growth towards green transition. Environment Performance Index (EPI) of 2022 has revealed India’s 169th position out of 180 countries.Green growth assumes greater significance due to 5.4% loss in GDP, 167 billion labor hours of extreme heat waves in 2021 and 314 days of extreme weather events in 2022.

In a bid towards Net Zero by 2070, India released a low carbon strategy by introducing LiFE concept (Lifestyle for Environment) to promote consumption. Introduction of Sovereign green Bonds as a new avenue in raising finance funds for green initiatives is also one of the steps towards Net Zero.

Paving the green way, the government has adopted Green Growth as one of the key priorities(Saptarishi) to lead India in its “Amrit Kaal”.

Green Growth actions:-

  • Green Hydrogen Mission will mobilize Green Hydrogen production capacity of 5 metric tonnes by 2030.
  • Steady decarbonization of Indian Industries , Reduce dependency on fossil fuel imports, Establish technology and market leadership in the sunrise sector.
  • Biodiversity conservation, Agriculture in spotlight.
  • MISTI (Mangrove initiative for shoreline Habitats and Tangible incomes.
  • Green Agriculture –Greenhouse gas emissions
  • PM PRANAM( programme for restoration Awareness Nourishment Amelioration of Mother Earth.)
  • Atma Nirbhar Clean Plant Programme
  • (Waste to Wealth) Plants under GOBARdhan (Galvanizing Organic Bio-Agro resources Dhan scheme.
  • Green Credit Program under the Environment Protection Act.

7% growth of the Indian #economy in the current year is enabled by the Green growth Tools i.e cleaner transition, green jobs & promoting #sustainable development. Responsible and cleaner business practices to be adopted for industry sectors, corporates and their value chain stakeholders. This shift presents new opportunities for long-term value creation, contributing towards a prosperous future potential for India. Research Dissertation projects in colleges and management programs guide students for sustainable development programs. We can build a robust pathway for Green Youth, Green transition by Empowering #Management students with project, training and skill development. #JIMS VKII #The BBA department acknowledges student development through green youth green transition and sustainable growth. Management students are the torch bearers of green economy, green growth and green business so universities and colleges should work hand in hand for the schemes of green growth.

#Green Education
#Green Business
#Green Economy
#Green Transition