Japan targets new energy
The Japanese Cabinet approved guidelines for drafting the fiscal 2013 budget, emphasizing financing for renewable energy development.
One of the budget's priorities is to fund the exploitation of wind, solar and other renewable energies to reduce Japan's reliance on nuclear power.
After assessing the requests, the ministry will earmark ¥1 trillion to ¥2 trillion for the growth strategy.
To secure the needed funds, every ministry and agency will be required to reduce general policy spending by up to 10 percent, excluding personnel and other administrative costs, but no upper limit has been set for postdisaster reconstruction work in the northeast.