Indian Budget 2024-25: Driving Clean Energy Investments
Key Ideas
- The Indian government is set to unveil policy measures, VGF schemes, and incentives in the upcoming budget to promote investments in renewable energy and green growth.
- Experts anticipate a focus on renewables, storage, and network strengthening, with recommendations like hydrogen purchase obligation and concessional tax rates on carbon and Renewable Energy Credits.
- Challenges in pumped storage projects and indirect tax components related to the Green Hydrogen sector are highlighted, emphasizing the need for supportive frameworks.
- Calls are made for customs duty exemptions, GST refunds, and incentives for solar power projects supplying electricity exclusively to Green Hydrogen units to reduce costs and drive growth.
The Indian government is gearing up to announce measures in the 2024-25 Union Budget to boost investments in renewable energy. Experts anticipate a green growth-oriented budget with a strong emphasis on renewables, storage, and network infrastructure. Recommendations include policy incentives for battery storage, hydrogen purchase obligations to drive demand, and concessional tax rates on carbon and Renewable Energy Credits. Challenges in pumped storage projects and indirect tax burdens on the Green Hydrogen sector are highlighted, advocating for supportive policies. Suggestions for customs duty exemptions, GST refunds, and incentives for solar projects supplying power to Green Hydrogen units aim to reduce costs and foster growth in the clean energy sector.
Topics
India
Renewable Energy
Energy Transition
Taxation
Policy Measures
Economic Growth
Investment Promotion
Incentive Schemes
Budget Announcement
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