The Centre will allocate a substantial part of the budgeted capital expenditure for fiscal year 2024-25 (FY25) to the energy sector, as the country strives to meet rapidly growing demand and achieve climate goals, Prime Minister Narendra Modi said on Tuesday.
The interim budget, presented on 1 February, pegged a capex of ₹11 trillion for next year, marking an increase from FY24's budgeted ₹10 trillion.
India's energy demand is projected to double by 2045, placing the country at the helm of shaping global energy trends, said PM Modi in his inaugural speech at the India Energy Week 2024, being held in Goa.
He urged industry leaders to join forces in steering the nation towards a future that is both prosperous and sustainable, while highlighting the need for sharing expertise, fostering collaboration on innovative technologies, and pursuing sustainable energy solutions.
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