New Delhi: The Union Finance Minister Nirmala Sitharaman announced the launch of the National Green Hydrogen Mission with an outlay of Rs. 19,700 crore. This mission will facilitate the transition of the economy, low-carbon intensity, reduce dependency on fossil fuel imports and make the country assume technology and market leadership in this sunrise sector.
The mission will facilitate demand creation, production, utilisation and export of green hydrogen. It is estimated to attract over Rs 8 lakh crore investments and create 6 lakh jobs by 2030.
The government’s objective is to achieve five MMT (million metric tonne) of annual production by 2030.
It will lead to a cumulative reduction in fossil fuel imports by over Rs 1 lakh crore and an abatement of nearly 50 MT of annual greenhouse gas emissions.
The initial outlay for the mission will be Rs 19,744 crore, including an outlay of Rs 17,490 crore for the SIGHT (Strategic Interventions for Green Hydrogen Transition) programme, Rs 1,466 crore for pilot projects, Rs 400 crore for research and development (R&D), and Rs 388 crore towards other mission components.
