India's G20 presidency: Government plans low-cost energy financing

19 May 2023 CW Team

Kumar further highlighted the government's commitment to achieving universal access to clean energy and addressing the challenges posed by deep decarbonisation and hard-to-abate sectors. The ETWG is diligently identifying priorities and estimating low-cost financing options to present to the G20 leadership.

Kumar stressed the importance of affordable finance for promoting these technologies in the fight against climate change, emphasising the government's focus on selecting appropriate technologies and securing low-cost financing. He emphasised the necessity of substantial public finance to reduce the financing costs of clean energy projects in developing countries, where the majority of action is required.

Kumar expressed the G20 community's responsibility to ensure that countries embarking on the path of development receive sufficient fund flows and affordable finance, ensuring equitable access to the benefits of progress.

During the event, Bhupinder Singh Bhalla, Secretary of the Ministry of New and Renewable Energy, emphasised the need for robust policy commitments, citing policy and regulatory stability, transparency, and predictability as essential factors for attracting investments.

Hosted by the Ministry of New and Renewable Energy (MNRE) and the International Renewable Energy Agency (IRENA) in collaboration with the Indian Renewable Energy Development Agency, the official side event titled "Low-cost Finance for New & Emerging Energy Technologies" took place in Mumbai on May 15, 2023, as part of the G20 ETWG meeting under India's G20 Presidency. The event brought together policymakers, financial institutions, and technology developers to discuss cost-effective financing estimates for energy transition based on emerging critical technologies such as hydrogen, offshore wind, energy storage, and carbon capture utilisation and storage.

At the event, the report "Low-Cost Finance for Energy Transition," prepared by IRENA in partnership with MNRE under the G20's India Presidency, was unveiled.

Also Read
HP govt focuses on business-friendly environment and investment
Will Government Spending Accelerate Construction?

The government is developing an interest subvention scheme to aid the energy sector's adoption of clean energy and energy efficiency technologies, revealed Alok Kumar, the Power Secretary. Speaking at the third Energy Transition Working Group (ETWG) meeting during India's G20 Presidency, Kumar stated that India is formulating a scheme to support the deployment of expensive emerging energy efficiency technologies, offering interest subvention. It's under consideration. He emphasised the need for initial support such as viability gap funding (VGF) and priority lending to facilitate the widespread implementation of new technologies. Kumar further highlighted the government's commitment to achieving universal access to clean energy and addressing the challenges posed by deep decarbonisation and hard-to-abate sectors. The ETWG is diligently identifying priorities and estimating low-cost financing options to present to the G20 leadership. Kumar stressed the importance of affordable finance for promoting these technologies in the fight against climate change, emphasising the government's focus on selecting appropriate technologies and securing low-cost financing. He emphasised the necessity of substantial public finance to reduce the financing costs of clean energy projects in developing countries, where the majority of action is required. Kumar expressed the G20 community's responsibility to ensure that countries embarking on the path of development receive sufficient fund flows and affordable finance, ensuring equitable access to the benefits of progress. During the event, Bhupinder Singh Bhalla, Secretary of the Ministry of New and Renewable Energy, emphasised the need for robust policy commitments, citing policy and regulatory stability, transparency, and predictability as essential factors for attracting investments. Hosted by the Ministry of New and Renewable Energy (MNRE) and the International Renewable Energy Agency (IRENA) in collaboration with the Indian Renewable Energy Development Agency, the official side event titled Low-cost Finance for New & Emerging Energy Technologies took place in Mumbai on May 15, 2023, as part of the G20 ETWG meeting under India's G20 Presidency. The event brought together policymakers, financial institutions, and technology developers to discuss cost-effective financing estimates for energy transition based on emerging critical technologies such as hydrogen, offshore wind, energy storage, and carbon capture utilisation and storage. At the event, the report Low-Cost Finance for Energy Transition, prepared by IRENA in partnership with MNRE under the G20's India Presidency, was unveiled. Also Read HP govt focuses on business-friendly environment and investmentWill Government Spending Accelerate Construction?

Infrastructure Urban

13 Mar 2026

Implementation Status of Jal Jeevan Mission

Since August 2019 the Government has implemented Jal Jeevan Mission to provide assured potable water through household tap connections in rural India. At the start of the mission only 32.3 million (mn) rural households, representing 16.7 per cent, were reported to have tap water connections. States and union territories have reported that 125.8 mn additional rural households have since been provided with tap connections. As a result, of about 193.6 mn rural households roughly 158.2 mn, or 81.71 per cent, are reported to have tap water supply at home.\n\nThe State, district and village level st..

Infrastructure Urban

13 Mar 2026

Jal Jeevan Mission Reaches Eighty One Per Cent Rural Coverage

The Government reported substantial progress under the Jal Jeevan Mission, launched in August 2019 to provide tap water to every rural household. At launch only 32.3 million (mn) rural households had tap connections and states and Union territories reported provision of 125.8 mn additional households by March 2026. Consequently, out of about 193.6 mn rural households around 158.2 mn, or 81.71 per cent, are reported to have tap water at home. The Finance Minister announced extension of the mission until 2028 in the 2025-26 budget speech. The Swachh Bharat Mission Grameen, launched in October 20..

Infrastructure Urban

13 Mar 2026

Empowering Local Governance for Sustainable Rural Water Supply

The Ministry of Jal Shakti has aligned the Jal Jeevan Mission (JJM) with the 73rd Amendment to strengthen village level planning and community ownership of water supply. Gram Panchayats, village water and sanitation committees and Pani Samitis are to plan, implement, manage and maintain piped water systems, with gram sabha processes formalising handover and oversight. Implementation support agencies including non government organisations, community based organisations and self help groups have been empanelled to train local committees and promote women participation. Under JJM, the department ..