Sustainable Budgeting

The Union budget was presented on the 1^st of February, 2022. Apart from the push towards Infrastructure led growth, it was heartening to listen to the Finance Minister talk about how her different policy will lead to ‘Sustainable Development’ keeping the needs of the environment in focus.  

At COP 26 in November 2021, India had committed itself to a net-zero carbon emission target by 2070. In terms of natural farming, the government has planned for initiatives like:

• Chemical-free natural farming to be promoted throughout the country, with a focus on farmers’ land in 5 km wide corridors along the River Ganga, in the first stage. 
• Education to be the focal point to effectuate the change by revising the syllabus of agricultural universities to meet the needs of natural, zero-budget and organic farming practices, modern-day agriculture and value addition.

Special mention is needed about the proposed issuance of sovereign green bonds for mobilising resources for green infrastructure. The proceeds will be earmarked for public sector projects that focus on reducing the carbon intensity of the economy. 

A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate and environmental projects. This is really a great boost for the investors with environmental concerns in mind.

We hope these proposals do see the light of day so that we, as an Indian society move toward sustainable practices.