IGI Logo

" Capacity building in domestic manufacturing and renewable energy generation will build the energy transition pathway for the country to achieve the target to reach 500 GW of renewable energy by 2030. In line with that vision, the renewable energy sector expects the Union Budget 2025-26 to announce some proposals and targeted measures to reduce import dependence in sourcing equipment while strengthening the storage, transmission and distribution network. The budget needs to reflect policy continuity in terms of the PLI scheme to build domestic manufacturing capacity of solar panels, modules and PV cells, which is pivotal in attaining self-reliance and competitiveness. In addition, the budget should announce incentives for banks and financial institutions to boost lending to the renewable energy sector. Moreover, we expect the budget to propose measures to incentivize renewable energy adoption in mobility as well as energy consumption and offer fiscal support to develop renewable energy infrastructure development and catalyze renewable energy projects, building a sustainable future.”

 

 

Above views are of the author and not of the website kindly read disclaimer