New Delhi, Feb. 1 -- India is moving forward firmly for the 'panchamrit' and net-zero carbon emission by 2070 to usher in green industrial and economic transition, Union Finance Minister Nirmala Sitharaman tells in her Budget speech on Wednesday.

This Budget builds on India's focus on green growth, she said.

Coastal Shipping

Speaking in line with green growth, Smt Sitharaman proposed that coastal shipping will be promoted as the energy efficient and lower cost mode of transport, both for passengers and freight, through PPP mode with viability gap funding.

Sitharaman further stated that replacing old polluting vehicles is an important part of greening our economy. In furtherance of the vehicle scrapping policy mentioned in Budget 2021-...