Union Budget 2015-16: Budget focuses on green development, power and electric vehicles

Finance minister, Arun Jaitley said the government was committed to making the development process as green as possible.

While presenting the General Budget 2015-16 in parliament today, he said, India's de-facto 'Carbon Tax' on most petroleum products compared favourably with international norms.

He said with regard to coal, there was a need to find a balance between taxing pollution, and the price of power.

He added the government was launching a scheme, Faster Adoption and Manufacturing of Electric Vehicles, for which he planned an initial outlay of Rs 75 crore in 2015-16.

The ministry of new and renewable energy had revised its target of renewable energy capacity to 1,75,000 MW till 2022, comprising 1,00,000 MW solar, 60,000 MW wind, 10,000 MW biomass and 5,000 MW small hydro, he added.