The Union Budget 2024 in India has allocated a substantial amount of Rs 19,100 crore to the Ministry of New and Renewable Energy, marking a significant increase from the previous budget allocation. This move aims to boost the renewable energy sector in the country. Following the announcement, shares of companies in the renewable energy sector like Borosil Renewables, Suzlon Energy, and Websol Energy Systems witnessed a significant surge, defying the market trend. The budget also focused on solar power, with a noteworthy allocation of Rs 8,500.35 crore, showing a positive outlook towards solar energy. Additionally, the introduction of the National Green Hydrogen Mission with an allocation of Rs 600 crore reflects the government's commitment to promoting green energy. Industry experts like Sachidanand Upadhyay and Manish Chowdhury have praised the budget for its emphasis on renewable energy and sustainability, highlighting the importance of solar energy in achieving India's renewable energy targets. The budget also includes provisions for bioenergy and announces forthcoming policy documents on energy transition pathways. Overall, the budget has been received positively by industry stakeholders, with a focus on energy security, sustainability, and economic growth.