India’s 2015 Union Budget

The 2015 Union Budget of India incorporates 'Green India' goals through electric vehicle promotion, revised renewable energy targets, and irrigation funding, though it lacks focus on green skills, crop insurance, and resilient 'Smart Cities'.

• The 2015 Union Budget emphasizes a 'Green India' approach, acknowledging that environmental degradation disproportionately affects the poor and committing to a green development process. To reduce urban emissions, the government proposed the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme with an initial 2015-16 outlay of 75 crore rupees (US$12 million).
• The Ministry of New Renewable Energy updated its renewable energy capacity target to 175,000 MW by 2022. This target is composed of 100,000 MW of Solar, 60,000 MW of Wind, 10,000 MW of Biomass, and 5,000 MW of Small Hydro.
• To address climate impacts on agriculture and water availability, the budget allocated Rs.5,300 crore (US $ 849 million) for the Pradhan MantriKrishiSinchaiYojana (PMKSY), watershed development, and micro-irrigation, aiming for "Per Drop More Crop" through water harvesting and organic farming.
• The budget is noted for several omissions, specifically failing to provide equal emphasis on adaptation and mitigation, adequate insurance for crop damage, better disaster preparedness for extreme weather, and the concept of 'Smart Cities' for urban resilience.
• The budget proposes the Micro Units Development Refinance Agency (MUDRA) Bank to support MSMEs, which are vulnerable to shocks and often lack formal credit. The bank is proposed with assets of Rs.20,000 crore (US$3.2 billion) and a credit guarantee budget of Rs. 3,000 crore (US$480 million).

APA

Bhatt, M. (n.d.). India’s 2015 Union Budget. Climate and Development Knowledge Network. https://cdkn.org/story/opinion-indias-2015-union-budget-step-toward-climate-compatible-development

Chicago

Bhatt, Mihir. India’s 2015 Union Budget. Climate and Development Knowledge Network, n.d. https://cdkn.org/story/opinion-indias-2015-union-budget-step-toward-climate-compatible-development.

Wikipedia

{{cite press release |last1=Bhatt |first1=Mihir |title=India’s 2015 Union Budget |publisher=Climate and Development Knowledge Network |url=https://cdkn.org/story/opinion-indias-2015-union-budget-step-toward-climate-compatible-development |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{bhattndindias, author = {Bhatt, Mihir}, title = {{India’s 2015 Union Budget}}, publisher = {Climate and Development Knowledge Network}, url = {https://cdkn.org/story/opinion-indias-2015-union-budget-step-toward-climate-compatible-development}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }