Budget 2026-27: Sitharaman proposes Rs 20,000 crore outlay for carbon capture technologies

New Delhi [India], February 1 (ANI): While presenting the Union Budget 2026-27, Union Finance Minister Nirmala Sitharaman proposed an outlay of Rs 20,000 crores over the next 5 years for Carbon Capture, Utilisation and Storage (CCUS) technologies to scale up and increase readiness in end-use applications.
Speaking in the Lok Sabha, Sitharaman also proposed a Coconut Promotion Scheme aimed at increasing production and improving productivity to boost India's competitiveness in coconut cultivation.
In her Union Budget 2026-27 presentation in the Lok Sabha, Sitharaman said the scheme will focus on major coconut-growing states and include measures such as replacing nonproductive trees with high-yielding saplings.
"To further enhance competitiveness in coconut production, I propose a coconut promotion scheme to increase production and enhance productivity through various interventions, including replacing non-productive trees with new saplings or plants of varieties in major coconut-growing states," Sitharaman said.
India ranks among the world's leading coconut producers, accounting for roughly 31% of global production. An estimated over 90 per cent of India's coconut cultivation is done in the southern states of Kerala, Tamil Nadu, Karnataka, and Andhra Pradesh. Around 30 million people, including nearly 10 million farmers, depend on coconut cultivation for their livelihoods.
In the Union Budget 2026-27, Sitharaman reaffirmed the government's commitment to strengthening the coconut sector.
She also proposed in the Budget, a dedicated programme for Indian cashew and cocoa with the objective of making India self-reliant in raw cashew and coconut production and processing, while enhancing export competitiveness.
"A dedicated program is proposed for Indian cashew and cocoa to make India self-reliant in raw cashew and coconut production and processing, enhance export competitiveness and transform Indian cashew and Indian cocoa into premium global brands by 2030," Sitharaman said.
She asserted that sandalwood is closely linked to India's social and cultural heritage. Our government will partner with state governments to promote focused cultivation and post-harvest processing to restore the glory of the Indian sandalwood ecosystem.
"Sandalwood is closely linked to India's social and cultural heritage. Our government will partner with state governments to promote focused cultivation and post-harvest processing to restore the glory of the Indian sandalwood ecosystem," Sitharaman said. (ANI)