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Budget's Emphasis on Low-Carbon Transport Could Transform the Economy
ECONOMY & POLICY

Budget's Emphasis on Low-Carbon Transport Could Transform the Economy

Currently, nearly 36 per cent of India's population resides in urban areas, and this figure is projected to surpass 40 per cent by 2036. This rapid urbanization signifies increased economic activity but also highlights the growing pressure on urban infrastructure, particularly transportation, which is essential for the economy. As India progresses and enhances its mobility infrastructure to accommodate the rising urban population, the importance of investing in low-carbon and sustainable solutions is crucial.

At present, road transport contributes to 90 per cent of emissions from India's transport sector, which accounts for 10 per cent of the country's total greenhouse gas emissions. If current trends continue, CO2 emissions from the transport sector are expected to rise by over 200 per cent by 2050. Therefore, the electrification of road transport is vital for India to achieve its net-zero target by 2070, especially with the increasing number of personal vehicles and road-based freight transport.

Investing more in public transport, freight, and non-motorized transport can mitigate the surge in private vehicle usage, which leads to congestion and pollution. The government's upcoming budget allocation will be crucial in determining the speed and quality of transformation in the transport sector across all states, ideally focusing on making public transport sustainable, accessible, affordable, and efficient.

Currently, about 39 per cent of India's population has access to public transport. Recognizing the expansion of low-carbon public transport as a high-impact area for growth and decarbonisation, the Government of India has prioritised the expansion of buses and metros in cities with populations exceeding one million. There is potential to broaden the scope and accelerate the electrification of public transport. Over the next five years, ongoing schemes like the PM e-Bus Sewa, which aims to deploy 10,000 electric buses in 169 cities, can be scaled up to meet the immediate requirement of 150,000 e-buses. Another vital component of urban transit, the metro rail system, currently serves over 10 million passengers daily across 21 cities. The 2024 budget should also prioritize investments to enhance last-mile connectivity to metro systems across cities to boost ridership.

Currently, nearly 36 per cent of India's population resides in urban areas, and this figure is projected to surpass 40 per cent by 2036. This rapid urbanization signifies increased economic activity but also highlights the growing pressure on urban infrastructure, particularly transportation, which is essential for the economy. As India progresses and enhances its mobility infrastructure to accommodate the rising urban population, the importance of investing in low-carbon and sustainable solutions is crucial. At present, road transport contributes to 90 per cent of emissions from India's transport sector, which accounts for 10 per cent of the country's total greenhouse gas emissions. If current trends continue, CO2 emissions from the transport sector are expected to rise by over 200 per cent by 2050. Therefore, the electrification of road transport is vital for India to achieve its net-zero target by 2070, especially with the increasing number of personal vehicles and road-based freight transport. Investing more in public transport, freight, and non-motorized transport can mitigate the surge in private vehicle usage, which leads to congestion and pollution. The government's upcoming budget allocation will be crucial in determining the speed and quality of transformation in the transport sector across all states, ideally focusing on making public transport sustainable, accessible, affordable, and efficient. Currently, about 39 per cent of India's population has access to public transport. Recognizing the expansion of low-carbon public transport as a high-impact area for growth and decarbonisation, the Government of India has prioritised the expansion of buses and metros in cities with populations exceeding one million. There is potential to broaden the scope and accelerate the electrification of public transport. Over the next five years, ongoing schemes like the PM e-Bus Sewa, which aims to deploy 10,000 electric buses in 169 cities, can be scaled up to meet the immediate requirement of 150,000 e-buses. Another vital component of urban transit, the metro rail system, currently serves over 10 million passengers daily across 21 cities. The 2024 budget should also prioritize investments to enhance last-mile connectivity to metro systems across cities to boost ridership.

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