Budget 2026: PHDCCI pitches green bank to finance renewable energy, EVs and climate tech – The Times of India

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 recommendations come ahead of the Budget session of Parliament, which is expected to begin on January 28.