Expectations for the Budget in 2025: Perspectives of Clean Energy Industry Participants

India has achieved significant progress toward sustainability and climate resilience since the release of Budget 2024, demonstrating the country's steadfast commitment to attaining net-zero carbon emissions by 2070 while promoting inclusive and sustainable growth. The government has set an ambitious goal of 500 GW of non-fossil fuel capacity by 2030, and its measures have significantly increased the number of renewable energy projects. A more robust and sustainable energy ecosystem is set to be established with increased investments in renewable energy infrastructure, such as grid modernization and cutting-edge storage technologies.

Stakeholders in the renewable energy industry are anticipating how the government would expand on clean energy programs to hasten the shift toward a sustainable and climate-resilient future as the union budget for 2025–2026 draws near. Industry insiders discuss their projections for the energy sector in the 2025 budget.

Capacity building in domestic manufacturing and renewable energy generation will build the energy transition pathway for the country to achieve the target to reach 500 GW of renewable energy by 2030. In line with that vision, the renewable energy sector expects the union budget 2025-26 to announce some proposals and targeted measures to reduce import dependence in sourcing equipment while strengthening the storage, transmission and distribution network. The budget needs to reflect policy continuity in terms of the production linked incentive scheme to build domestic manufacturing capacity of solar panels, modules and PV cells, which is pivotal in attaining self-reliance and competitiveness. In addition, the budget should announce incentives for banks and financial institutions to boost lending to the renewable energy sector. Moreover, we expect the budget to propose measures to incentivise renewable energy adoption in mobility as well as energy consumption and offer fiscal support to develop renewable energy infrastructure development and catalyse renewable energy projects, building a sustainable future.

Divyesh Savaliya Founder & Chairman, Onix Group

Hardik Adhiya Chief Operating Officer, Onix Group