Union Budget 2021: Boost to non-conventional energy sector

Finance minister Nirmala Sitharaman began her Union Budget 2021-22 presentation on Monday in the Lok Sabha. In her speech, the finance minister mentioned that this year’s budget proposals rest on six pillars — health and well-being, physical, financial capital and infrastructure, inclusive development for aspirational India, reinvigorating human capital, innovation and R&D and minimum government and maximum governance.

Finance Minister Nirmala Sitharaman declared to boost to the non-conventional energy sector. Sitharaman said that an allocation of Rs 1,000 crores to solar energy corporation and Rs 1,500 crores to renewable energy development agency will be done to uplift the power sector of the nation.

In a bid to end the monopoly of power distribution, the government will create a framework to allow consumers of electricity alternatives to choose from more than one distribution company.

A comprehensive National Hydrogen Mission is being launched for generating hydrogen from green power sources. The mission would be covered in the fiscal year 2021-2022.

 

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