Reportedly, the Central government is set to propose a Rs 389 billion carbon capture, utilisation and storage (CCUS) programme, aimed at supporting hard-to-abate sectors such as iron, chemicals, petrochemicals, green hydrogen, and coal-based power generation.
The programme will be rolled out in multiple phases, with the first phase proposed for six years. According to reports, the central government is likely to contribute over Rs 195 billion with the balance expected from bank loans and multilateral funding. The scheme will comprise sub-schemes with varying support levels, ranging from 100 per cent funding for research and development initiatives to 40–50 per cent for commercial and demonstration-scale projects.