Statement on interim budget – Anvesha Thakker, Partner Business Consulting and National Industry Lead – Clean Energy, KPMG in India – EQ

Statement No 1

The thrust towards bio-based economy has been stepped up with announcement of new scheme on bio foundry, bio manufacturing, financial support for biomass aggregation machinery and mandates for CBG blending. This should result in debottlenecking some of the constraints such as biomass availability as well as provide new use cases for this sector to grow for e.g. bio based substitutes in industries such a polymers, pharmaceuticals etc. This not only provides income and growth opportunities for farmers, but offers avenues for decarbonization to industries including promoting regenerative principles in manufacturing.

Statement No 2

The budget has a strong focus towards decentralized opportunities such as solar roof top, EV charging which is aimed to create a step change in sector with a strong underlying theme of inclusion of households, SMEs, and youth in the energy transition opportunities. A wider adoption of solar roof top is likely to be propelled by the scheme for 300 units free electricity every month for 1 crore household through roof top installations providing savings up to fifteen to eighteen thousand rupees annually. This along with the support towards manufacturing and charging infrastructure for EVs, is likely to create entrepreneurship opportunities for large number of vendors for supply and installation as well as employment opportunities for youth with technical skills in manufacturing, installation, and maintenance.