EXTENSION OF THE production-linked incentive (PLI) scheme to the solar energy value chain, increased allocation towards PM Surya Ghar Muft Bijli Yojana, and a greater thrust on the distribution and transmission infrastructure are likely to be the key features of the upcoming Budget, as far as the energy sector is concerned.
Sources said these proposals figured not only in the Budget wish list of the industry, but also in the recommendations of the ministries of power and renewable energy to the finance ministry. While the government has launched the rooftop solar scheme and announced viability gap funding for offshore wind projects, industry players expect increased allocations, particularly towards solar and wind, along with higher budgetary capital expenditure in green hydrogen and battery storage infrastructure. The sector also expects the government to increase the coverage of households under PM Surya Ghar.
"Given the success of PM Surya Ghar scheme with almost 600,000 installations in just nine months since its launch, one could probably see additional allocation to target more households," said Ashwin Jacob, Partner and Energy, Resources & Industrial Industry Leader, Deloitte India.
"As far as evacuation of power from offshore wind projects is concerned, we would want to see the VGF or budgetary support to continue or get enhanced," he added.
This story is from the January 10, 2025 edition of Financial Express Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the January 10, 2025 edition of Financial Express Delhi.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Chants meet chatbots at this year's Maha Kumbh
FROM INFORMATION TO SECURITY, AI TO BE MAJOR MOVER AT THE MEGA EVENT
Trump tariffs: Auto suppliers rethink production plans
Trump has vowed to impose a blanket tariff of 10% on global imports into the US and a 60% tariff on Chinese goods
Premium online video market to double by 2028: Report
INDIA'S PREMIUM ONLINE video market, valued at $1.7 billion in 2023, is projected to nearly double by 2028, solidifying its position as one of the fastest-growing over-the-top (OTT) markets globally, according to the Asia Video Industry Report 2025.
RBI governor seeks to improve forecasting
Two of the sources Reuters spoke to said the RBI would look to increase datasets required to gauge trends in income and expenditure better.
Meta's fact-checking snub in US alarms India
As Meta announced the end of its third-party fact-check programme in the US, a move that is being seen as the company reorienting itself for the new Trump era, a palpable sense of panic has gripped fact-checkers in India.
TCS profit rises 4% in Q3
AMONG VERTICALS, ENERGY, resources and utilities grew by 3.4%, and consumer business gained 1.1%.
Taliban Urges India to Ease Visa Process
First High-Level Meet
Hollywood Hills burn as big blaze engulfs LA
THE HOLLYWOOD HILLS blazed uncontrollably on Thursday morning as the worst wildfires in the history of Los Angeles raged across the city and deep into the storied heartland of the American film industry.
Hush money: Court rejects Trump bid to delay sentencing
NEW YORK'S TOP court rejected on Thursday Donald Trump's request to halt the president-elect's sentencing for his conviction on criminal charges stemming from hush money paid to a porn star, with a decision on a possible delay now in the hands of the President-elect.
Biden to further limit Nvidia AI chip exports in final push
PRESIDENT JOE BIDEN'S administration plans one additional round of restrictions on the export of artificial intelligence chips from the likes of Nvidia just days before leaving office, a final push in his effort to keep advanced technologies out of the hands of China and Russia.
