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India Plans $4.3 Billion Spending for Energy Transition

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India earmarked 350 billion rupees ($4.3 billion) to invest in the nation’s energy security and green transition, in a step toward Prime Minister Narendra Modi’s goal of reaching net zero emissions by 2070.

The investments will be made by the oil ministry, Finance Minister Nirmala Sitharaman said in her federal budget speech Wednesday. She didn’t give a time frame for the spending, but listed green growth as one of the key budget priorities for the year through March 2024.