Budget 2025: Plan afoot to decarbonise power, steel
decarbonising hard-to-abate sectors such as thermal power, iron and steel, and cement plants, people familiar with the matter told ET.
The contours of the mission are being firmed up and an announcement could be made in the February budget, they said. This mission will be in line with India's goals to halve carbon emissions by 2050 and attain netzero emissions by 2070.
«Discussions are on, on the contours of the mission… details are being worked out,» a senior government official said. A committee under the chairmanship of the Central Electricity Authority (CEA) is in place for defining the requirement and timeline of this mission and scheme needed to implement the goals, the person said.Asecond official said two meetings of this committee have already taken place.
Incentives for Equipment
It has been concluded that costs of carbon capture technology need to come down for India to attain its emission reduction goals, he said. The mission would provide incentives for manufacturing equipment used for CCUS and sops for per-tonne carbon emission abated.
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