Budget 2023: Experts expect a boost to decarbonisation, energy transition

Issues that need to be addressed include expanding funding for renewable manufacturing, extending PLI to wind and green hydrogen, among others

Union Budget 2023 is expected to highlight India's ability to continue expanding its decarbonisation initiative despite concerns about energy security amid the war in Europe and the IMF's recession prediction.

Whether it is the recently approved Green Hydrogen Mission, the push towards electric vehicles (EVs), or increasing investments in renewables, experts say India’s energy transition is gathering pace.

India is committed to achieving a series of announcements made globally, such as reaching 500 Gw (gigawatt) non-fossil energy capacity by 2030, and 50 per cent of its energy requirements from renewable energy by 2030, among others. The experts expect the Union