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

02 Jun 2026

VECV Sales Rise 7.8 Per Cent In May 2026

VE Commercial Vehicles recorded sales of 7,978 units in May 2026, compared to 7,401 units in May 2025, registering growth of 7.8 per cent. This included 7,789 units from the Eicher brand and 189 units from the Volvo brand.Eicher branded trucks and buses reported sales of 7,789 units during the month, up 7.3 per cent from 7,258 units a year earlier. In the domestic commercial vehicle market, Eicher sales rose 9.1 per cent to 7,375 units from 6,758 units in May 2025.Exports declined 17.2 per cent to 414 units from 500 units in the corresponding month last year. Volvo Trucks and Volvo Buses recor..

Infrastructure Urban

02 Jun 2026

Table Space Strengthens DESYN Leadership Team

Table Space has announced strategic leadership appointments within DESYN, its integrated Design and Build business, as it looks to strengthen operations across key enterprise and GCC markets in India. DESYN was launched as a strategic extension of Table Space’s workspace solutions portfolio to meet rising demand for agile, high-quality and rapidly deployable enterprise workspaces.Shruti Ookabhoy has joined DESYN as Executive Director and will lead the Design vertical, focusing on design capability, operational excellence and team development across markets. She brings over 22 years of experi..

Infrastructure Transport

02 Jun 2026

Concord Associate Bags Rs 2.79 Bn Kavach Order

Concord Control Systems said its associate company, Progota India, has received a Rs 2.79 bn domestic order from Indian Railways for the supply, installation, testing and commissioning of on-board Kavach 4.0 loco equipment.The order is scheduled for execution within 12 months and strengthens Concord’s role in India’s railway safety and signalling ecosystem. Kavach is India’s indigenous automatic train protection system, designed to improve operational safety by helping prevent signal passing at danger and reducing collision risks.Gaurav Lath, Joint Managing Director, Concord Control Syst..