Budget Boost for Solar, EVs, and Nuclear SMRs to Enhance Energy Security

11 Jul 2024 CW Team

According to Dwivedi, it is expected that the budget will strengthen the government's commitment to these sectors by further supporting local manufacturing capabilities aligned with global energy transition trends.

The government's upcoming fiscal policies are anticipated to emphasize the resilience of electricity infrastructure, aiming to mitigate the impacts of increasingly severe weather events linked to climate change. This includes significant allocations towards digitizing electrical grids to facilitate the integration of Distributed Energy Resources (DERs) and enhance capacity to manage peak demands.

India, having achieved a milestone of adding 18 GW of solar capacity in FY24, faces the challenge of scaling up annual renewable energy capacity to approximately 50 GW to achieve a 2030 target of 500 GW of non-fossil fuel generation. Dwivedi noted that expanding renewable capacity on this scale requires not only continuing existing initiatives but also a focused effort, particularly towards corporate contributions to renewable energy and offshore wind projects.

The budget is also expected to highlight emerging energy technologies such as electric vehicles (EVs), green hydrogen, and Nuclear Small Modular Reactors (SMRs), deemed crucial for enhancing India's energy security and reducing dependency on fossil fuels.

Dwivedi indicated that investments in the upcoming budget are likely to include substantial support for improving transmission and distribution infrastructure. This will be accompanied by strategic measures to digitize the grid, enhancing its capability to manage the requirements of a modern, decentralized energy system.

Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY25 on July 23, following a Budget session starting on July 22 and concluding on August 12.

In a significant move towards modernizing energy infrastructure, the central government is gearing up to prioritise advancements in the electricity sector in the upcoming 2024-25 budget, with a strong focus on renewable energy sources. Anujesh Dwivedi, partner at Deloitte India, mentioned that the government aims to localise the manufacturing base for solar, hydrogen, and batteries, influenced by global geopolitical shifts post-COVID19. According to Dwivedi, it is expected that the budget will strengthen the government's commitment to these sectors by further supporting local manufacturing capabilities aligned with global energy transition trends. The government's upcoming fiscal policies are anticipated to emphasize the resilience of electricity infrastructure, aiming to mitigate the impacts of increasingly severe weather events linked to climate change. This includes significant allocations towards digitizing electrical grids to facilitate the integration of Distributed Energy Resources (DERs) and enhance capacity to manage peak demands. India, having achieved a milestone of adding 18 GW of solar capacity in FY24, faces the challenge of scaling up annual renewable energy capacity to approximately 50 GW to achieve a 2030 target of 500 GW of non-fossil fuel generation. Dwivedi noted that expanding renewable capacity on this scale requires not only continuing existing initiatives but also a focused effort, particularly towards corporate contributions to renewable energy and offshore wind projects. The budget is also expected to highlight emerging energy technologies such as electric vehicles (EVs), green hydrogen, and Nuclear Small Modular Reactors (SMRs), deemed crucial for enhancing India's energy security and reducing dependency on fossil fuels. Dwivedi indicated that investments in the upcoming budget are likely to include substantial support for improving transmission and distribution infrastructure. This will be accompanied by strategic measures to digitize the grid, enhancing its capability to manage the requirements of a modern, decentralized energy system. Finance Minister Nirmala Sitharaman is scheduled to present the Union Budget for FY25 on July 23, following a Budget session starting on July 22 and concluding on August 12.

Infrastructure Urban

29 Oct 2025

Designing Tomorrow: Amaravati’s Net Zero Landmark

Amaravati has achieved a defining landmark in India’s sustainable infrastructure journey with the inauguration of the APCRDA Project Office, the nation’s first government building to earn the IGBC Net Zero Energy Rating – Design Stage. Conceptualised by the Andhra Pradesh Capital Region Development Authority (APCRDA) and certified by the Indian Green Building Council (IGBC), the project exemplifies how governance, design and innovation can converge to deliver measurable environmental impact.A vision rooted in sustainabilitySet within a 4.3-acre site along the Seed Access Road in the Amar..

Real Estate

29 Oct 2025

Pidilite Elevates Construction with PPS

Pidilite Industries introduced Pidilite Professional Solutions (PPS) — a dedicated vertical for the construction and interiors ecosystem — at ACETECH Bengaluru 2025. Designed to empower architects, developers, contractors, and interior specialists, PPS delivers comprehensive support that extends far beyond products to ensure project excellence from concept to completion. Kavinder Singh, Joint Managing Director, Pidilite Industries, noted, “At Pidilite, we believe in enabling the construction fraternity to build boldly and sustainably. With Pidilite Professional Solutions (PPS),..

Infrastructure Transport

29 Oct 2025

Punjab, Centre Fast-Track Rajpura-Mohali Rail Line Development

The central government has fast-tracked the construction of the Rajpura-Mohali rail line to enhance connectivity in Punjab. This ambitious infrastructure project, aimed at improving transportation links between Rajpura and Mohali, has been identified as a key step in fostering regional economic growth. Union Minister for Railways, Ashwini Vaishnaw, announced the project’s acceleration during a recent assessment of the area. The rail line is expected to play a significant role in reducing travel time, promoting industrial growth, and boosting logistics efficiency in the region. The project,..