Budget Expectations

“There is a need for increased investments in transmission lines. Also, additional funds for research and development in hydrogen-related technologies, supporting the government’s ‘Atmanirbhar Bharat’ scheme is required.”
–Shirish S Garud, Consultant, and Senior Fellow- TERI

“Supporting manufacturers, especially in the Small and Medium Enterprises (SME) segment, is crucial for meeting the growing demand. Vertical integration in the solar manufacturing process is essential for reducing import dependency.”
–Vineet Tyagi, Head of North Sales- Rayzon Solar

“There is a need to align policies with industry needs and create a conducive ecosystem for sustainable growth.”
–Gaurav Upadhyay, Energy Finance Specialist, India Sustainable Finance-IEEFA

“Despite previous strides, the government should articulate specific goals and funding commitments to drive sustainable advancements in these critical sectors.”
-Santosh Kamath, Managing Director-Alvarez and Marsal

“Addressing concerns about solar panel imports, the budget should prioritise measures for indigenous development, technology transfer, and incentives for local manufacturing to curb foreign exchange outflow… Reduction in customs duty on solar cells, an extension of ALMM, and shortening project implementation time are needed to support indigenous solar manufacturing.”
–Raman Bhatia, Founder and Managing Director- Servotech Power Systems Limited

“The upcoming budget holds a pivotal role in steering India towards a sustainable future by fostering the growth of battery recycling. The circular economy’s cornerstone, battery recycling, addresses mineral scarcity and reinforces our supply chains… To further empower this sector, streamlined recycling policies and incentives for pioneering waste management solutions are imperative.”
–Rajesh Gupta, Founder and Director- Recyclekaro

“As infrastructural development remains a cornerstone of economic progress, the upcoming Union Budget holds pivotal significance in steering India towards its $5 trillion economy milestone. InvITs hold a transformative potential in mobilizing private capital for infrastructure. Through InvITs, democratic ownership of crucial assets has been facilitated, thanks to commendable efforts by the Ministry of Finance and SEBI. Yet, to fully unleash the potential of this investment avenue, some imperative policy enhancements include, classifying InvITs as equity instruments, expanding their participation in mainstream indices and reducing the holding period for InvITs to 12 months for LTCG computation.”
-Mr. Harsh Shah, CEO, IndiGrid.