The Petroleum and Natural Gas Ministry has told the Finance Ministry that a Rs 30,000 crore fund for energy transition and net-zero objectives announced for oil marketing companies (OMC) in last year’s Budget, but never disbursed, needs to stay in the upcoming Budget.
The last Budget had earmarked a mega capital outlay, which was set to focus on new-age fuels — green hydrogen, ethanol, and other biofuels.
The record high budgetary grant towards green transition was to be a key driver in reducing the carbon emission of the economy and leap towards green fuels and green energy sources.
