Union Budget 2025: Fuelling India's energy revolution
Union Budget 2025 is set to significantly impact India's energy sector, with anticipated policy enhancements aimed at promoting sustainable growth. The focus is expected to be on accelerating renewable energy, green hydrogen initiatives, tax reforms, and the evolution of e-mobility and energy storage solutions.
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Renewable Energy: Expanding Horizons
To meet the 2030 target of 500 GW of renewable capacity, the budget is likely to prioritize increased funding for renewable sector. Viability gap funding is expected for offshore wind and green hydrogen, while solarization support for MSMEs will broaden the renewable base. Incentives to stimulate domestic manufacturing of solar panels and batteries are also anticipated, alongside skill development to bolster the 'Make in India' initiative.
Energy Policy: A Greener Blueprint
A detailed energy transition policy, designed to chart a strategic course for reducing emissions in sectors traditionally reliant on high carbon footprints, will provide much needed impetus to the roadmap for a greener future. Policy may focus on enablers to seamlessly blend a spectrum of energy sources, paving the way for a smooth shift towards a varied and sustainable energy matrix.
Hydrogen Economy: Accelerating Clean Energy
The Union Budget 2025 may also look to bolster the National Green
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