India’s Union budget for FY ‘11-12 is likely to consist of a strong green element when it would be declared later this month, and be aligned with latest comments made by environment minister Jairam Ramesh.

Just a few days back, the environment ministry of India had released an updated compendium of guidebooks outlining policy and measures that companies must follow while seeking regulatory nod.

On 23rd of January 2011, the environment minister Jairam Ramesh and finance minister Pranab Mukherjee had talked about earmarking financial incentives in the upcoming union budget for organizations that obey with environmental standards while signing projects as well as “punishments” for those that do not.

Jairam Ramesh had also stated, “to help companies better comply with these norms and make the process more transparent, we’ll be releasing updated guides to better negotiate the Environmental Impact Assessment Act (EIA).”

On the sidelines of a gathering by the Federation of Indian Chambers of Commerce and Industry, Managing Director, Harsh Singhania, JK Paper Ltd, stated “right now, there are uncertainties regarding projects and implementation both at the regulator’s end as well as companies when they approach the regulators. That is the biggest reason for strife when projects are set up.”