Page 42 - Policy Economic Report - Feb 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

annually. He also highlighted that over 164 Vande Bharat Express trains are operational today, with 260
sleeper trainsets planned, and that indigenous technologies will power seven newly announced high-
speed rail corridors.

Shri Puri further noted that India has invested over ?2.5 lakh crore since 2014 in domestically building
more than 2,000 metro coaches. Under the UDAN scheme, 1.5 crore passengers have flown on routes
that did not exist earlier, making India the world’s third-largest domestic aviation market.

On MSMEs and clean growth, the Minister said the Budget builds on the progress made since 2014 by
aligning competitiveness with sustainability. Initiatives such as Bio-Pharma SHAKTI with an outlay of
?10,000 crore, a ?10,000 crore MSME Growth Fund, and a ?2,000 crore top-up to the Self-Reliant India
Fund will further strengthen innovation and enterprise. Clean growth has been embedded into the
economic strategy through a ?20,000 crore CCUS Mission and duty exemptions for lithium-ion battery
equipment, critical minerals and nuclear power projects till 2035.

Summing up, Shri Puri said Union Budget 2026–27 recognises India’s decade-long transformation since
2014 into a major global economy and focuses on strengthening the foundations for sustained, inclusive
and innovation-driven growth. He described it as a nation-building Budget that advances India steadily
towards a truly Aatmanirbhar and Viksit Bharat.

NTPC Plans Setting Up of Nuclear Power Projects

NTPC Ltd. a CPSE under the administrative control of Ministry of Power, Government of India (GoI), is
planning for 30GW nuclear capacity by 2047 through the following two routes:

i. Anu Shakti Vidyut Nigam Limited (ASHVINI), a JV of NTPC Ltd. and Nuclear Power Corporation of
India Limited (NPCIL), is in the process of establishing a 4×700 MW nuclear power project in
Banswara district of Rajasthan, called Mahi Banswara Rajasthan Atomic Power Project (MBRAPP).

ii. NTPC Ltd. has formed a wholly owned nuclear subsidiary, NTPC Parmanu Urja Nigam Limited
(NPUNL), incorporated on 07.01.2025 under the Companies Act after getting requisite clearances.

The above target of 30GW is a part of the Government’s decision of having 100 GW nuclear capacity by
2047.

Carbon Credit Trading Scheme

The Carbon Credit Trading Scheme (CCTS) has been notified with the objective of reducing, removing, or
avoiding greenhouse gas emissions from the Indian economy by pricing such emissions through the
trading of Carbon Credit Certificates (CCC).

The Government has taken several measures to operationalise the Indian Carbon Market (ICM), including
establishment of the requisite institutional framework, notification of Greenhouse Gas Emission Intensity
(GEI) targets for seven energy-intensive sectors under the compliance mechanism. Further, approved
methodologies under the offset mechanism, a robust monitoring, reporting and verification framework,
and procedures for accreditation of carbon verification agencies have been put in place.

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