India Aims To Extract 50% Of Energy From Non-Fossil Sources By 2030, Become Net-Zero Nation By 2070: PM Modi

The Prime Minister pointed out that an amount of Rs 19,500 crore has been allocated for high-efficiency solar module manufacturing in this year's budget.

New Delhi: Prime Minister Narendra Modi on Friday said that India has set the target of extracting 50% of its energy from non-fossil fuel sources by 2030.

Addressing a post-budget webinar on ‘Energy for Sustainable Growth', PM Modi said the theme is inspired by India's traditional knowledge and it will lead the country's future.

"India's vision is clear that sustainable growth is possible from sustainable energy sources only. We've promised to become a net-zero nation by 2070. We also put forward the LIFE Mission - Lifestyle for Environment," he added.

"By 2030, India has set the target of extracting 50% of its energy from non-fossil fuel sources. It is our opportunity to shift to more sustainable practices. We need to focus on building a hydrogen ecosystem in which the private sector can play a pivotal role," PM Narendra Modi said, as quoted by news agency ANI.

He emphasised that in the coming years, India's energy demands "will continuously be on the up, and thus, India needs to transition towards renewable energy. We need to take clean cooking forward as well. Solar gas can be a huge market for our start-ups."

The Prime Minister suggested every household develop its own solar tree "that can contribute to saving up to 15% electricity". "It will not only be unique but will be environment-friendly," he said at the virtual session.

PM Modi On Budget 2022's Focus On Energy

PM Modi mentioned that energy storage is also a big challenge alongside renewable energy. "We've given a big priority to storage capacity as well. In this year's budget, we've made provisions for battery swapping policy and inter-operability standards," he stated.

The Prime Minister pointed out that an amount of Rs 19,500 crore has been allocated for high-efficiency solar module manufacturing in this year's budget and the National Hydrogen Mission was also announced.

He said that LED bulbs used to cost Rs 300-Rs 400 but the NDA government increased production, leading to reduced cost. "We have distributed nearly 37 crore LED bulbs under UJALA, saving a lot of electricity, money for the poor, as well as reducing carbon emissions," he added.

PM Modi stated that the Union government has planned four pilot projects for coal gasification as innovation is needed in this sector. "Ethanol blending has also been promoted. We need to modernise our sugar mills and distilleries," he emphasised

The Prime Minister mentioned that energy-saving and production are equally important for sustainability, "we need to do a lot more to build more energy-efficient ACs, heaters, geysers and similar appliances."

Previously, PM Modi has participated in similar webinars held for Defence, Education, Rural Development, Health, and Agriculture sectors. The webinars focus on the successful implementation of Budget 2022-23.