The Green Growth initiative of Priority 5 promotes sustainable lifestyles in India, while the Aam Aadmi anticipates being able to keep more of the money they have worked so hard to achieve as a result of an increase in the income tax band to seven lakhs.
Nirmala Sitharaman, Finance Minister of India, nicknamed the spending plan an “Amrit Kaal budget” because of all the new programmes that it finances intending to establish a nation that is both progressive and environmentally stable.
These measures, if carried out as planned, hold great promise for establishing India as a global leader in sustainable development and environmental protection with a focus on achieving “net zero,” which is something that the West has been unable to do. If carried out as planned, these measures hold great promise for establishing India as an international leader in sustainable development and environmental protection.
There was an explicit discussion of ten of the seventeen Sustainable Development Goals (SDGs) in the budget, with a focus on health, education, inequality reduction, urban sustainability, consumer responsibility, and climate action.
Something like the LGB, lab-grown diamonds that lessen the need for mining and the depletion of natural resources, or the establishment of three centres of excellence for artificial intelligence at preeminent universities. All of these innovations could help reduce the need for mining and the depletion of natural resources. It has been suggested that the government provide funding for a research and development grant at one of the IITs to increase the domestic production of lab-grown diamonds. This would be done to lower the amount of lab-grown diamonds that are brought into the country as imports and support a reduction in the amount of customs duty placed on lab-grown diamonds.
The government intends to produce 5 metric tonnes (MT) of green hydrogen by the year 2030, investments of 35,000 cr in priority capital towards energy transition and net zero objectives, and encourage the installation of 4,000 megawatt-hours (MWh) of battery energy storage. All of these goals will be accomplished by the year 2030.
Myplan8 is excited bout the announcement of the Green credit scheme, which will be announced under the Environment Protection Act, is quite exciting since it marks a big push for the Mission Lifestyle For the Environment(LiFE). A green credit scheme is going to be introduced very soon to encourage companies and individuals to engage in activities that are better for the environment.
Putting in place the Gowardhan Scheme to encourage a circular economy with a total investment of 10,000 cr, planting mangroves along the coast as part of the new MISHTI scheme to promote conservation values through a scheme to encourage optimal use of wetlands, and allotting adequate funds for scrapping old polluting vehicles owned by the government are all examples of the emphasis placed on taking action through the modification of one’s lifestyle.
Budgetary incentives were provided to states and union territories (UTs) to switch to alternative fertilisers and provided to one crore farmers to go to natural farming even solving soil contamination and arable land issues. If the government under Modi wishes to promote the Amrit Kaal, they may find that this helps them accomplish so.