Nirmala Sitharaman holds a folder with the Government of India's logo while leaving her office to present the union budget in the parliament in New Delhi.
Credit: Reuters Photo
Finance Minister Nirmala Sitharaman on Tuesday announced nine priorities in the Union Budget 2024-25 for generating ample opportunities in the economy.
The nine priorities include productivity, jobs, social justice, urban development, energy security, infrastructure, innovation and reforms.
For energy security, Sitharaman said that the government has received more than 1.28 crore registrations and 14 lakh applications under PM Surya Ghar Muft Bijli Yojana.
Track updates as we follow the Union Budget speech and its reactions here
She announced that pumped storage policy will be brought out for electricity storage and integration of renewable energy in the overall energy mix.
R&D of small and modular nuclear reactors and newer technologies for nuclear energy has been also announced.
A joint venture between NTPC and BHEL to set up a full scale 800 MW commercial thermal plant using advanced ultra super critical technology is also in the works, Sitharaman said.
Roadmap for 'hard to abate' industries will be formulated for transition from ‘Perform, Achieve and Trade’ mode to ‘Indian Carbon Market’ mode.
Energy audit of traditional micro and small industries in 60 clusters with financial support for shifting them to cleaner forms has also been announced.
Union Budget 2024 LIVE | Making a record for any Finance Minister, Nirmala Sitharaman will be presenting her 7th Union Budget on July 23, 2024 under the Modi 3.0 government. While inflation has burnt a hole in the pockets of 'aam janata', will this Budget spell relief for Indians? Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.