Carbon-neutral economy:
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To facilitate domestic manufacturing for the ambitious goal of 280 GW of installed solar capacity by 2030, an additional allocation of Rs 19,500 crore for Production Linked Incentive for manufacture of high-efficiency modules, with priority to fully integrated manufacturing units from polysilicon to solar PV modules, will be made.
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The Budget emphasizes circular economy transition to increase productivity and opportunities in new businesses and jobs.
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The budget makes proposals to use 5 to 7% biomass pellets in thermal power plants. It also proposes four pilot projects for coal gasification and conversion of coal into other useful chemicals.
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Sovereign Green Bonds will be issued for mobilizing resources for green infrastructure. The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy.
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Battery swap policy will be formulated for electric vehicles. This can substantially decrease the turnaround time at EV charging stations.