“India’s Union Budget 2025 is expected to be crucial as we balance economic growth, job creation and energy consumption, with our strategic focus on sustainability. NITI Aayog plans to release energy transition guidelines by early 2025, outlining a roadmap for India to meet its net-zero carbon emissions target by 2070.
I expect Budget 2025 to support continued growth on expanding Solar and Wind energy capacity to achieve our target of achieving 500 GW of non-fossil fuel capacity by 2030.
I expect the Budget to support the decarbonisation of “hard-to-abate” industries like steel, cement, and petrochemicals, with an emphasis on integrating circular economy principles.
Most importantly, I expect the Budget to take last year’s Budget announcement on the Climate Finance Taxonomy forward by outlining specific timelines for implementation and detailed strategies for mobilizing climate finance. I expect the Budget to support blended finance models, from diverse funding sources from global capital markets, including sovereign wealth funds and private equity”.
