UP govt to implement Carbon Credit Finance Scheme for farmers' economic well-being
So far, Rs 49.55 lakh has already been distributed to 244 farmers under the scheme, said a press statement.
Lucknow, Jul 10 (PTI) The Uttar Pradesh government is implementing the Carbon Credit Finance Scheme to promote environmental protection and strengthen the economic well-being of farmers.
Uttar Pradesh is the first state in the country to implement such a model.
The farmers from Gorakhpur, Bareilly, Lucknow, Meerut, Moradabad and Saharanpur divisions have been included in the first phase.
Through agroforestry, these farmers have collectively generated an estimated 42.19 lakh carbon credits. At the rate of $6 per carbon credit, the distribution takes place every five years, said the statement.
The farmers selected under this phase include those from Badaun, Pilibhit, Shahjahanpur, and Bareilly (Bareilly division); Bijnor, Najibabad, Sambhal, Rampur (Moradabad division); Ghaziabad, Baghpat, Bulandshahr, Gautam Buddha Nagar, Hapur and rural areas of Rampur (Meerut division).
In Gorakhpur division, the districts of Deoria, Kushinagar and Gorakhpur are included, while the districts of Hardoi, South Kheri , Raebareli, Sitapur and Unnao are covered in Lucknow division.
In the second phase, the scheme will be extended to Devi Patan, Ayodhya, Jhansi, Mirzapur, Kanpur, Varanasi and Aligarh divisions, and eventually rolled out across the entire state in phase three.
The scheme is being implemented in collaboration with The Energy and Resources Institute (TERI).
Under this model, one carbon credit is issued for every metric ton of carbon dioxide or other greenhouse gases absorbed from the atmosphere. The scheme not only supports India's climate goals, but it also enhances farmers' income.
By participating in this programme, the farmers can earn Rs 250 to Rs 350 per tree apart from the standard market price of the tree.
The scheme aligns with the Government of India's goal to achieve carbon neutrality by 2070 and stands as a landmark step toward that vision. PTI CDN AS AS
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
SAIL looks to invest Rs 7,500 cr as capex in FY26, reports all-time high Q1 sales
SAIL plans a Rs 7,500 crore capex for FY25, a 25% increase, to boost capacity across its plants, aiming for 35 MnT by 2030. Expansion is underway at IISCO and Durgapur Steel Plants. The company reported a strong Q1 with increased profit and sales, while anticipating robust domestic demand despite global overcapacity and import pressures. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads State-owned steel maker SAIL is looking to spend Rs 7,500 crore as capex in the ongoing fiscal, 25% higher from FY25 , to expand capacities across plants, a senior company official which is India's largest steel player in public sector , is in expansion mode and working to scale up its overall capacity to 35 million tonnes (MnT) by 2030 from a combined 20 MnT capacity of its five integrated plants (ISPs) spread across Odisha, Jharkhand, Chhattisgarh and West Bengal, at an outlay of nearly Rs 1 lakh crore."...capex last year was close to Rs 6,000 crore. And this year, we have kept a target of Rs 7,500 crore throughout the year, which is a higher target," SAIL Director , Finance, Ashok Kumar Panda told PTI responding to a question on company's investment capex has already been approved by the board and SAIL is confident to achieve it by end of the fiscal. In the April-June, SAIL has already spent Rs 1,642 crore, which is more than the target set for the first quarter, he details of the expansion plan, Panda said tendering activities are ongoing at IISCO Steel Plant (West Bengal), where a 4.5 MTPA expansion is planned. The plant has a current capacity of 2.5 Durgapur Steel Plant (DSP), a brownfield expansion plan is in progress to increase output to 3.09 MTPA from current 2.2 MTPA, along with a greenfield expansion. For other plants, expansion plans are under expansion plans for Bhilai Steel Plant (BSP) in Chhattisgarh, Bokaro Steel Plant in Jharkhand, and Rourkela Steel Plant (RSP) in Odisha are being worked out asked about the expectations from the coming quarters for the company, Panda said, "you already know we reported a multi-fold rise in consolidated net profit (Rs 885.93 crore) in Q1 driven by improved operational efficiency, better cash flow and strong growth in sales volume." Better cashflow has resulted in substantial reduction in will work towards that to maintain the momentum in the remaining three quarters as well, the Director saleable steel production (finished steel) during the quarter stood at 4.7 million tonnes as against 4.2 million tonnes in the year-ago period, registering a growth of 12 per volume stood at 4.55 million tonnes, 15 per cent higher against 4 million tonnes in the first quarter of last year. In fact, this is the best ever first quarter performance in sales in any financial year for his outlook for the sector, he said the domestic steel industry faces a mixed near-term outlook. Global overcapacity and substantial imports, especially from China, are currently pressuring steel in India is expected to remain strong, driven by robust growth in infrastructure and residential construction, projected at 8-9 per cent in 2025."Iron ore demand will surge, with domestic production aiming for self-sufficiency, though some imports may continue. Conversely, India's heavy reliance on imported coking coal will persist. However, efforts continue to boost local output and explore new technologies to reduce this dependence," he said, sharing outlook for raw materials. Steel Authority of India Ltd (SAIL) is also planning to reduce imported coal usage in the future after the commencement of mining from Tasra Coal Mines, which are its captive mines, Panda said.
Time of India
26 minutes ago
- Time of India
Swiggy Q1 Results: Loss widens to Rs 1,197 crore, revenue soars 54%
Food delivery player Swiggy Ltd on Thursday reported widening of its net losses to Rs 1,197 crore in the first quarter of FY26, compared to Rs 611 crore in the year-ago period. Revenue from operations in the reporting period rose 54% YoY to Rs 4,961 to come...
&w=3840&q=100)
Business Standard
26 minutes ago
- Business Standard
DLF is king, Taj & OYO are shock stars of India's ₹16 lakh cr realty list
India's most valuable real estate companies are now worth a combined ₹16 lakh crore ($188 billion), as per the 2025 GROHE-HURUN India Real Estate 150 report. Despite a sharp slowdown from last year's 70% surge to just 14% growth this year, the sector has proven resilient — adding ₹1.4 lakh crore in value. DLF, Lodha, and Indian Hotels Top the Value Charts DLF remains India's most valuable real estate company with a valuation of ₹2.07 lakh crore, up 2.6% YoY. Lodha Developers follows at ₹1.38 lakh crore. Indian Hotels Company (Taj Group) climbs to third place with a 37% jump to ₹1.08 lakh crore — cementing hospitality as a fast-growing vertical. Prestige Estates (₹71,500 Cr), Godrej Properties (₹70,600 Cr), Oberoi Realty (₹69,400 Cr), Phoenix Mills (₹55,900 Cr), and Adani Realty (₹52,400 Cr) round out the top eight. Two newcomers — M3M India and Aparna Constructions & Estates — entered the Top 10 at ₹37,400 Cr each, reflecting the growing clout of regional powerhouses. Top 10 in the 2025 GROHE - HURUN India Real Estate 150 – India's Most Valuable Real Estate Companies Rankings Indian Hotels Company demonstrated remarkable growth, making a significant ascent within the top companies. Prestige Estates Projects also showed strong upward momentum. Geopolitical Shock and Market Response: Performance of Listed Leading Real Estate Companies in the 2025 GROHE - HURUN India Real Estate 150 Wealthiest Real Estate Entrepreneurs in the 2025 GROHE - HURUN India Real Estate 150 Rajiv Singh of DLF leads the list of India's richest real estate entrepreneurs, maintaining his top position with a steady rise in wealth. He is followed by Mangal Prabhat Lodha & family of Lodha Developers, who recorded a modest increase over the year. Gautam Adani of Adani Realty ranks third, despite a slight dip in his real estate wealth. Among the top gainers this year, Raja Bagmane of Bagmane Developers emerged with the highest percentage growth, followed by Atul Ashokkumar Ruia of The Phoenix Mills and Vikas Oberoi of Oberoi Realty, both of whom posted healthy gains that helped solidify their positions among the upper ranks. Rajiv Singh tops the 2025 GROHE - HURUN India Real Estate 150 entrepreneurs list with a wealth of Rs 1,27,610 Cr, up 3% from last year. Mumbai continues to be the real estate capital of India! Mumbai continues to lead India's real estate map with 42 companies, contributing a cumulative valuation of Rs 6,96,800 Cr. Bengaluru ranks second with 23 companies, totalling Rs 1,97,400 Cr in value. New Delhi holds the third spot with 16 companies valued at Rs 89,700 Cr. Hyderabad climbs to fourth with 13 companies and a combined value of Rs 93,700 Cr. Gurugram ranks sixth with 12 companies, worth Rs 3,23,300 Cr. Hospitality and Co-working Spark Diversification Hospitality firms like Indian Hotels and new entrants like Ventive Hospitality (IPO 10.3x subscribed) and Schloss Bangalore (The Leela operator, ₹13,600 Cr market cap) are reshaping the industry. Co-working models are gaining too, with SmartWorks leading the charge. 22 hospitality companies now account for ₹2.7 lakh Cr in value. OYO, led by Ritesh Agarwal, debuts in the Top 15. Top Cities by Company Presence and Value 60% of all companies now operate outside their home states, and 17 have a global footprint — proof of increasing scale and ambition. Rise of New Powerhouses The rankings welcomed 63 new entrants, with 29 debuting directly into the top 100. Hyderabad-based Aparna Constructions made a striking entry at ninth position (₹37,400 crore), while M3M India, led by Basant Bansal, re-entered the top 10, signaling the rise of regional heavyweights. Arihant Foundations & Housing recorded a staggering 1000% growth in valuation, reaching ₹1,400 crore, while Indian Hotels Company added ₹29,150 crore — the largest absolute value gain in a year. Professionalism & Gender Diversity on the Rise In a clear sign of maturing leadership, 33 of the top 150 companies are now led by professional CEOs, unaffiliated with the founding family. The average age of companies dropped from 39 to 34 years, while the average leader age is now 58, suggesting a generational shift. Notably, four companies are led by women: Pavitra Shankar of Brigade Enterprises Priya Paul of Apeejay Surrendra Park Hotels Jyotsna Suri of The Lalit Meenakshi Ramji of Sowparnika Meanwhile, Neetish Sarda, 31, is the youngest leader; GVK Reddy, 88, is the oldest. IPO Surge, Brand Building, and New Playbooks The number of listed companies rose to 65 from 48, and IPOs like Ventive Hospitality (10.3x subscribed) and Schloss Bangalore drew strong investor interest. Beyond numbers, India's real estate players are now building global brands. Lodha's collaboration with Armani, DLF's luxury retail, and Phoenix Mills' lifestyle-led malls reflect a shift from building spaces to crafting experiences. As Anas Rahman Junaid, Founder of Hurun India, puts it: 'India's top developers are no longer just constructing square footage — they're designing legacies.' Growth Slows — But Fundamentals Hold The cut-off to enter the list now stands at ₹1,000 Cr, double that of 2019. 63 new companies joined the list; 29 entered the Top 100. 51% of firms saw gains (vs 86% last year), and growth slowed from ₹6.2 lakh Cr in 2024 to ₹1.4 lakh Cr in 2025. BSE Realty Index fell 12%, reflecting wider market headwinds. Still, companies like Prestige, DLF, and Anant Raj rebounded strongly post-April. Sector Overview & Valuation The cut-off to enter the 2025 list is Rs 1,000 crore, double the threshold from five years ago. The combined value of India's top real estate companies is Rs 16 lakh crore (USD 188 billion). This value is ₹1.9 lakh crore higher than last year — greater than the GDP of Kuwait and the combined GDP of Jordan and Bulgaria. Growth slowed to 14% in 2025, down from 70% in 2024 — the lowest ever recorded in the list's history. The slowdown coincided with a 12% fall in the BSE Realty Index. Top Companies DLF retains top spot with a valuation of INR 2.07 lakh crore. Lodha Developers ranks second at INR 1.4 lakh crore. Indian Hotels Company (Taj Group) takes third at Rs 1.1 lakh crore, also the top hospitality brand on the list. New & Notable Entrants OYO, led by Ritesh Agarwal, enters the list for the first time, debuting within the Top 15. 63 new entrants feature this year; 29 directly entered the Top 100. Adani Realty is the most valuable unlisted real estate company on the list. Value Change Trends Only 51% of the companies saw value increases this year, compared to 86% last year. Total value added was just Rs 1.4 lakh crore, down sharply from Rs 6.2 lakh crore in 2024. Geographic Spread Mumbai tops with 42 companies (up by 9). Followed by: Bengaluru: 23 companies (up 8) New Delhi: 16 companies (up 2) Hyderabad & Pune: 13 companies each These five cities account for 71% of all companies on the list. Biggest Growth Performers Arihant Foundations & Housing posted over 1000% growth in valuation, reaching ₹1,400 crore. Schloss Bangalore, founded just 6 years ago and valued at ₹13,600 crore, is the youngest company on the list. Other young high-performers include: Urbanrise: ₹10,200 crore Raymond Realty: ₹6,700 crore WeWork India: ₹1,100 crore
