The government may provide for targeted fiscal incentives and allocation of funds for the promotion of green hydrogen in the country in Union Budget 2022-23, which is slated to be unveiled in Parliament on Tuesday.
The government launched National Hydrogen Mission in 2021. Earlier this month, Power and New & Renewable Energy Minister R K Singh had indicated that a green hydrogen policy will be unveiled in February which would feature many incentives to boost green hydrogen in the country.
”While 2021 saw the launch of National Hydrogen Mission, the Budget may likely provide for targeted fiscal incentives for R&D in green hydrogen segment, creation of domestic supply chain for hydrogen and reduce customs duties on electrolyzers to boost green hydrogen production,” says Venkatesh Raman Prasad, Partner, J Sagar Associates (JSA).
Prasad is of the view that India’s commitment…
Incentives for green hydrogen likely in Union Budget
