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Below the Budget Reaction on Renewable Sector by Sachidanand Upadhyay, MD, Lord`s Mark Industries Limited

"Solar energy plays a crucial role in India's aspirations to generate 500 GW of renewable energy by 2030 given that it is a vital component in the country's efforts to reduce dependence on fossil fuels and combat climate change. The Union Budget 2024-25 underscores a pivotal commitment to energy security and sustainability. The Finance Minister's announcement of a forthcoming policy document on energy transition pathways is a significant step towards a greener future. The introduction of the PM Surya Ghar Muft Bijli Yojana is a transformative initiative while investing in rooftop solar systems representing a significant financial commitment by the Government. With 1.28 crore registrations and 14 lakh applications already recorded, this achievement reflects a robust public response and sets a promising precedent for sustainable energy adoption in India. Aligning with India's commitment to achieving net-zero emissions by 2070, Lord's Mark Industries is contributing significantly to this vision, recently securing a project to set up 50 MW of grid-connected rooftop solar projects in Uttar Pradesh."

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