PHDCCI for setting up Green Bank to finance green energy in upcoming Budget

New Delhi, Jan 9 (PTI) Industry lobby PHDCCI on Friday suggested that the government establish a dedicated Green Bank or Climate Finance Facility to catalyse private capital into green technologies such as renewable energy, energy efficiency, and electric vehicles, as part of its pre-Budget recommendations.

At a pre-Budget interactive session with representatives of the BFSI sector, participants emphasised the need for budgetary support, risk-sharing mechanisms, and robust disclosure frameworks to ensure transparency in green lending.

They also suggested that the government should allow the Green Bank, once established, to raise funds via green bonds / pooled instruments.

They also made various other policy suggestions for the upcoming budget.

"More credit to MSMEs at lower cost, more support to export hit sectors and more liquidity infusion. I think the rate cuts haven't transmitted the way they should have," Chairman of PHDCCI Gurmeet Chadha told PTI, responding to the sector's wishlist for the Budget.

The Budget session of Parliament is likely to commence on January 28, and the Union Budget is set to be tabled on February 1, a Sunday. PTI RSN DRR