Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Tuesday inaugurated the BioNEST Incubation Centre (BIC) at Indian Institute of Technology (IIT) in Dharwad in association with Research and Technology Incubator (dhaRti).

In an interaction with the IIT students, Sitharaman said the government’s focus is on sustainable green models. Several countries are falling back on coal citing higher prices of natural gases. Yet the government is determined to achieve zero emission by 2047, said the FM.

The government is boosting renewable energy enterprises by giving subsidies. Budgetary provision alone is not enough to achieve the goals. For instance, steel and cement sectors need advanced technology to reduce emission and it is costly, the FM said. The FM said green bonds and CSR funds are being mobilized towards this. The FM also said the country is making progress with fin-tech.

The FM said technology institutes should work with industries and graduates should gain hands-on experience along with academic standards. There is need for change in curricula. Institutes should cater to the needs of students. There are many skill sets, and students should work on them.