In her Budget 2023 speech in Parliament on Wednesday, Finance Minister Nirmala Sitharama announced that the government supports the construction of a 4,000 MWH battery energy storage facility that is financially viable.
“Use Rs 35,000 crore for energy transition investments,” Sitharaman announced in his budget speech.
The announcement should attract more investment in energy storage and accelerate the integration of renewable energy into the grid.
The government also announced that it will spend 10,000 crore annually for the Urban Infrastructure Development Fund.
This is Modi Government 2.0’s final full budget. The Finance Minister announced seven budget priorities in his union budget speech.
The seven priorities are inclusive development, reaching the last mile, infrastructure and investment, unlocking potential, green economic growth, youth empowerment, and the financial sector.
Some of the important highlights announced today were the creation of an Agricultural Acceleration Fund to help agribusinesses in the country and the government’s announcement of an increase in the credit target for agribusinesses to 20 crore.
FM also announced the PM Vishwa Karma Kaushal Samman, a relief package for traditional artisans and craftsmen. The government has announced that it will improve the quality, scope, and scale of its products, which will integrate these entrepreneurs into the MSME value chain.