NGHM receives Rs 535 crore allocation in Budget

Finance Minister Nirmala Sitharaman has proposed an allocation of Rs 535 crore for the National Green Hydrogen Mission (NGHM) in the Union Budget for 2025-26. The allocation is part of the government’s ongoing commitment to developing alternative and renewable energy sources in India.

Launched on January 4, 2023, the National Green Hydrogen Mission aims to accelerate the adoption of green energy across India. The mission is a key initiative in the country’s drive to promote clean energy and reduce dependence on fossil fuels.

The government initially set aside Rs 19,744 crore for the mission, spanning the period until the 2029-30 financial year. For the first fiscal year, 2023-24, the mission received Rs 297 crore. The previous Interim Budget allocated ₹600 crore to further support the mission’s objectives. The mission aims to help India achieve its goal of becoming self-reliant (Aatmanirbhar) through clean energy initiatives.

It aims to contribute to the global clean energy transition, decarbonise the economy, reduce reliance on fossil fuel imports, and establish India’s leadership in Green Hydrogen technologies and markets.

The government is implementing the guidelines to replace fossil fuels and fossil fuel-based feedstocks with green hydrogen and its derivatives. The ministry of steel will execute the pilot projects with the assistance of the nominated implementing agencies.

As reported by cnbctv18.com, the projects are expected to receive a total budgetary outlay of Rs 455 crore. This funding will extend until the end of the 2029-30 financial year. It will contribute to India’s vision of a greener and more sustainable future.