National Green Hydrogen Mission Outlay Announced In Budget 2023; Toyota Extends Support For It

The government has announced that it’s working actively towards developing an alternative fuel ecosystem in its latest “green budget”

In the Budget 2023, the Union Government announced some relief for EVs along with its focus to boost ethanol production in the country. However, the bigger announcement was the outlays of the National Green Hydrogen Mission, which will make India one of the global leaders in hydrogen production. 

Also Read: Nitin Gadkari Finds Out How The Toyota Mirai Works As A Daily Driver

The government has allocated Rs 19,700 crore for the project, which will help India achieve a production capacity of five Million Metric Tonnes by 2030. This will also help the government save up to Rs one lakh crore worth fossil fuel imports. 

We know that several carmakers are working towards the development of hydrogen-powered cars in India. Hyundai, Tata, and Toyota are working on bringing hydrogen fuel cell electric vehicles. Unique highlights will be that these hydrogen-powered cars will offer a decent driving range and can be refuelled in a few minutes. And the only emission will be water. 

Toyota has extended its support for the National Green Hydrogen Mission. Mr. Vikram Gulati, Country Head and Executive Vice-President, Toyota Kirloskar Motor, said, “The Budget which not only focuses on inclusiveness, youth empowerment and skill development, but also aims to give impetus to “Green Growth” with sufficient outlays for supporting the recently announced National Green Hydrogen Mission, doubling of allocation for FAME 2 scheme and for providing viability gap funding for Battery Energy Storage System (BESS).”