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  • Investment₹10,000crore
Infrastructure

FM proposes ₹10,000 crores for CBG plants

Keshav Raina Updated 1 min read
Union Budget 2023-24
The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman departs from North Block to Rashtrapati Bhavan and Parliament House, along with the Ministers of State for Finance, Shri Pankaj Chaowdhary and Dr. Bhagwat Kishanrao Karad and the senior officials to present the Union Budget 2023-24, in New Delhi on February 01, 2023.

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EA AI summary
  • Building forward on the priorities of the union budget, the FM proposed 500 new ‘waste to wealth’ plants under GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) scheme for promoting a circular economy.
  • The 500 plants will comprise 200 compressed biogas (CBG) plants, including 75 plants in urban areas, and 300 community or cluster-based plants at a total investment of ₹10,000 crore.
  • She said, in due course, a 5% CBG mandate will be introduced for all organizations marketing natural and biogas and for the collection of bio-mass and distribution of bio-manure, appropriate fiscal support will be provided.
  • To avoid cascading of taxes on blended compressed natural gas, exemption of excise duty on GST-paid CBG contained in it, has also been proposed.
  • The GOBARdhan Scheme aims to make farmers self-reliant while converting cattle dung and solid waste into compost and biogas.

Summarised from this article by EA AI, Energy Asia’s in-house AI. Read the full story for complete context.

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Building forward on the priorities of the union budget, the FM proposed 500 new ‘waste to wealth’ plants under GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) scheme for promoting a circular economy. The 500 plants will comprise 200 compressed biogas (CBG) plants, including 75 plants in urban areas, and 300 community or cluster-based plants at a total investment of ₹10,000 crore.

She said, in due course, a 5% CBG mandate will be introduced for all organizations marketing natural and biogas and for the collection of bio-mass and distribution of bio-manure, appropriate fiscal support will be provided.

To avoid cascading of taxes on blended compressed natural gas, exemption of excise duty on GST-paid CBG contained in it, has also been proposed.

The GOBARdhan Scheme aims to make farmers self-reliant while converting cattle dung and solid waste into compost and biogas. This scheme is a part of Swachh Bharat Mission Grameen-Phase II program.

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