India's Budget: A Green Revolution in Energy Sector

The recent Budget announcements by Finance Minister Nirmala Sitharaman focus on critical minerals and green transition. Measures include support for renewable energy, solar infrastructure, and energy storage technologies. The budget aims to make India self-reliant in resources and meet net-zero goals, drawing positive reactions from energy industry leaders.

Finance Minister Nirmala Sitharaman's Budget announcements zero in on critical minerals and green transition, targeting self-reliance and net-zero goals, according to industry leaders.

Amit Rautela, CFO of Meja Urja Nigam, hailed measures supporting AUSC technology for thermal power and duty reforms for critical minerals as game-changers.

Rahul Walawalkar of IESA emphasized the significance of budget-endorsed pumped hydro storage for energy solutions, alongside the abolition of angel tax, boosting investor confidence in the clean tech sector.

Solex Energy's Chetan Shah praised the Rs 5,000 crore extension for the PLI scheme in solar PV manufacturing, aimed at curtailing import dependence.

The Rs 10,000 crore fund for solar parks and grid support is pivotal, noted Hanish Gupta of Sunkind Energy, highlighting the transformative PM Suryaghar Muft Bijli Yojana.

Waaree Energies' Amit Paithankar welcomed new exemptions for solar manufacturing capital goods, foreseeing stronger domestic production and self-reliance.

Anil Rawal from IntelliSmart Infrastructure and Hero Future Energies' Srivatsan Iyer underscored the budget's alignment with the 500 GW renewable energy target by 2030 and the essential taxonomy for climate finance.

Raman Bhatia of Servotech Power Systems lauded duty hikes on PVC flex banners and the commissioning of a new 2400 MW solar power unit in Bihar.

(With inputs from agencies.)