Budget 2026: PHDCCI pitches green bank to finance renewable energy, EVs and climate tech

Industry body PHDCCI has suggested that the government set up a dedicated Green Bank or Climate Finance Facility in the upcoming Union Budget to help channel private capital into green technologies such as renewable energy, energy efficiency and electric vehicles, PTI reported.The proposal was made during a pre-Budget interactive session with representatives from the banking, financial services and insurance (BFSI) sector, where participants underscored the need for budgetary support, risk-sharing mechanisms and strong disclosure frameworks to improve transparency in green lending.The industry body also suggested that the proposed Green Bank should be allowed to raise funds through green bonds or pooled financing instruments to expand the availability of long-term climate finance.In addition to climate-focused financing, PHDCCI flagged broader concerns around credit availability and liquidity in the economy. “More credit to MSMEs at lower cost, more support to export-hit sectors and more liquidity infusion. I think the rate cuts haven't transmitted the way they should have,” PHDCCI Chairman Gurmeet Chadha told PTI.The Budget session of Parliament will be held from January 28 to April 2, Parliamentary Affairs Minister Kiren Rijiju said on Friday. The session will open with President Droupadi Murmu’s address to a joint sitting of the Lok Sabha and the Rajya Sabha. Finance Minister Nirmala Sitharaman will table the Economic Survey and present the Union Budget during the session. Rijiju did not specify the date for the Budget presentation. February 1, the customary Budget Day, falls on a Sunday this year. Parliament will go into recess from February 13 to March 9. “On the recommendation of the Govt of India, Hon’ble President of India, Smt. Droupadi Murmu ji has approved the summoning of both the Houses of Parliament for the Budget Session 2026,” Rijiju said in a post on X. “The Session will commence on 28 January 2026 and continue till 2 April 2026,” he added.