The re-elected Modi Government’s first Union Budget charts a green course, with ambitious plans for solar, nuclear, and renewable energy. The government aims to decarbonize heavy industries while ensuring energy security and creating jobs
In a major push towards a greener future, the Union Budget for FY25 has outlined a comprehensive roadmap for India's energy transition. The government has pledged to develop a policy document to address the challenges of decarbonizing hard-to-abate sectors such as refineries and steelmaking.
A key highlight of the budget is the continued emphasis on solar energy. Building on the success of the PM Surya Ghar Muft Bijli Yojana, which has seen over 1.28 crore registrations, the government is committed to expanding rooftop solar installations across the country.
The budget also recognizes the pivotal role of nuclear energy in India's energy mix. The government is set to partner with the private sector to develop advanced nuclear reactors and technologies. Additionally, the development of indigenous technology for ultra-supercritical thermal power plants will further enhance energy efficiency and reduce emissions.
To ensure grid stability and accommodate the increasing share of renewable energy, the government has announced a policy to promote pumped storage projects. This will help address the intermittency challenges associated with solar and wind power.
Finance Minister Nirmala Sitharaman expressed optimism about India's energy future, stating that the budget’s initiatives will not only boost economic growth but also create employment opportunities and protect the environment.
With these ambitious plans, India is well on its way to becoming a global leader in sustainable development.