Union Budget 2023- Considering the budget, what will happen to petroleum products? | LIVE | Aapka Budget

Tarun KohliPublish Date: 03 Feb, 2023

The country's average citizen is furious because of the growing cost of petrol and inflation. RK Goyal, the former director of GAIL, is joining us to talk about whether there has been any respite for petroleum goods from this budget in this situation.

35000 crore for the energy transition

The Ministry of Petroleum & Natural Gas will get INR35,000 crore in funding from the budget for energy security, net-zero goals, and energy transition. In cases where contracts were not executed during the COVID period, the government will also reimburse MSMEs for 95% of the forfeited money related to bid or performance security. The MSMEs functioning in the oil and gas sector will benefit from this.

The Government has outlined a vision in this Budget to inspire a lifestyle movement that is ecologically conscious. Its objective is to advance toward the challenging goal of net-zero carbon emissions by 2070 in order to bring about a transition to a green industrial and economic system.

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