Budget 2024: Coal gasification, liquefaction of 100 metric tonnes to be set up by 2030: FM Nirmala Sitharaman
The decision is a significant step as it helps reduce the import of chemicals, which can be derived through coal gasification.
Coal gasification and liquefaction of 100 metric tonnes will be set up by 2030, Finance Minister Nirmala Sitharaman said on Thursday. In January, the government approved an outlay of Rs 8,500 crore as financial assistance for promoting coal and lignite gasification projects.
The government has also approved setting up of a coal-to-SNG (Synthetic Natural Gas) project through a joint venture between Coal India and GAIL at an investment of Rs 13,052.81 crore and a coal-to-ammonium nitrate project through a joint venture between CIL and BHEL for Rs 11,782.05 crore.
The decision is a significant step as it helps reduce the import of chemicals, which can be derived through coal gasification. She said India has received a Foreign Direct Investment (FDI) inflow of USD 596 billion since 2014, which is double the inflow between 2004 and 2014. She added that the government has launched Blue Economy 2.0 to promote aquaculture in the country.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Bandhan Bank Q4 FY24 Results Preview: PAT, interest income likely to grow in almost double digits; asset quality may improve
Gold and Silver rate today (May 14, 2024): Precious metals trade in green; yellow metal above Rs 72,000 once again, white metal near Rs 85,350
Women loco pilots speak about their struggle; many men have to be informed even for 'washroom break' in a moving train
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
12:53 PM IST