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 Hyderabad.
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This story is from the January 10, 2025 edition of Financial Express Hyderabad.
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