GUWAHATI: The first-ever "Green Budget" was introduced at the Assam Assembly on Thursday by the state finance minister Ajanta Neog.
Stating that the Assam government recognises climate change as an imminent global threat, Neog, while presenting the Assam Budget 2023-24, said, "Through the State Action Plan on Climate Change, we have been attempting to mainstream adaptation strategies into the development process."
"This year, I am proposing to introduce Chief Minister's Green Initiative Incentive Scheme as part of Assam's agenda in implementing India's "Panchamrit" strategy for combating climate change. We plan to incentivize private-led carbon sequestration initiatives and promote climate resilience through community participation," she said.
She also informed that methods to quantify the carbon emissions of a village and strategies to make the villages net-zero within a finite period would be identified.
"This year, for the first time we are introducing Green Budget. A Green Innovation Fund will be set up with a corpus of ₹25 cr for promoting Research & Development Grants for Green Solutions and Alternatives Incubation Program in collaboration with state agencies," Neog added.
The minister also proposed to give an exemption from payment of electricity duty on the generation of power from renewable sources for captive consumption for one year.
"This would help to promote and incentivise the generation and consumption of green and clean energy by trade and industries," she said.
"I appeal to all to come forward and take advantage of this exemption and contribute to the cause of renewable energy," the minister added.
Neog also announced a motor vehicle tax subvention of 2 per cent along with a registration fee exemption for citizens buying EVs this year.
"Transport Department will issue operational guidelines for the same. The initiative has been taken to further promote the use of electric vehicles," Neog added.