Pre-budget quote from Mr. Amit Jain, Global CEO – Sterling and Wilson Renewable Energy – EQ Mag Pro

Amit Jain, Global CEO – Sterling and Wilson Renewable Energy said, “With this year’s budget, we have more expectations from the government with regards to renewable energy which can spur the growth of the sector.

PLI Schemes will be incentivized, due to which module manufacturing will go up. Hence, we are expecting allocation towards module manufacturing. The government should come up with RTC tenders. With the increasing prices of batteries, government should put efforts in this direction.

There should be an increase in the PLI amounts for manufacturing batteries in India. Clearance of pending DISCOMS bills should be resolved and more budgetary allocation to be made to improve the fiscal health of electricity distribution companies. We expect the electricity sector to be brought under the ambit of GST and Solar contracts with multiple slabs to be streamlined to a single slab.

This will help to reduce the cost of solar installation and reduce ambiguity in the sector. We are expecting new policies around green hydrogen. While the National Hydrogen Policy and a few pilot projects are encouraging initiatives, the buzz now needs to be converted to action on the ground. Allocation to incentivize cheaper production of green hydrogen is needed since the economy will be centered around it.”