GQ determines how much we care, understand and are determined to do something favourable for the environment we live in.
A recent analysis showed that it has done well when it comes to allocations to ministries that are engaged directly in the management of environment and natural resources.
Compared to the last Budget, allocations are up by about 6.6%.
What is the major issue?
The allocations for the MoEF is increased by about 10%, but this increase is much lower than last fiscal year and hence does not reflect any stepping up of efforts towards meeting our Nationally Determined Contributions.
It is estimated that Rs 100,000 crore would be required annually for conservation and afforestation measures to achieve the 3 billion tons of additional carbon sequestration.
How to increase the investment?
Large a scale of investments cannot be met from the central Budget alone.
The National Clean Energy Fund (NCEF), funded by cess levied (Rs 400 per tonne) on produced and imported coal can be used.
It can be used for the purposes of financing and promoting clean energy initiatives, funding research in the area of clean energy, etc.,
Of the aggregate amount collected between 2010 & 2017, only about 35% has been transferred to the NCEF, which itself remained underutilised.
About 70% of NCEF fund has went to the ministry of new and renewable energy (MNRE) and it has been used inefficiently till now.
It is essential that the NCEF be more efficiently and strategically employed as an enabler of large-scale change in the renewable sector.
The fund can also be deployed in applied research and development of viable technologies and business models for clean energy services in India.
