UNION ENERGY
How Modi govt can turn India into a real estate powerhouse in Union Budget, brick by brick
India's ambitious goal to become a developed nation by 2047 relies heavily on a robust real estate sector. Contributing 7.3% to GDP, real estate drives job creation, supports allied industries, and boosts economic growth. Key policy measures in Union Budget 2024, such as tax rationalization and land utilization, are essential for sustained sectoral and national development.
Union Budget 2024: Sectors for investors - What can the Budget hold for different sectors?
India Budget Announcements: Finance Minister Nirmala Sitharaman is set to present the full Union budget, with investors eager for insights on infrastructure, manufacturing, fiscal discipline, job creation, and social spending. Expectations include a focus on sustainable and climate-resilient infrastructure, increasing local content requirements for manufacturing, and bridging credit gaps for MSMEs. Defense sector reforms are also anticipated.
Hydro power is facing a deepening dry spell
Hydro’s problems resemble those of the other veteran form of clean power, nuclear. Unlike wind and solar, it’s been an established technology for decades, so much of its growth potential has already been exploited.
VIEW: Cues on the critical need to support India’s solar and renewable energy industry
NDA 3.0 aims to revitalize India’s economy with a focus on clean energy in the 2024-25 budget. Priorities include policy continuity, fiscal incentives, and significant investments in renewable technologies, particularly solar. By allocating 5-10% of GDP to clean energy, India can foster economic growth, employment, and global leadership in renewable energy.
Guidebook to lighting up India’s renewable energy ambitions for upcoming Union Budget 2024
Budget 2024: India aims for 500 GW renewable energy by 2030, with Sitharaman's July 23 budget detailing measures under Modi 3.0. Ranking 4th globally, India seeks a 45% carbon intensity reduction by 2030. Key initiatives include transnational grid, FAME 3.0, 600k skilled workers, GST concessions, PPP solar projects, addressing copper costs, RBI financing draft, overseas training, poaching, and sustainability incentives.
Oil Minister Hardeep Puri says India offers Rs 100 bn investment opportunities in explorations & productions
Union Minister Hardeep Singh Puri announced India offers an investment opportunity of at least 100 billion by 2030 in energy exploration and production. He highlighted the potential of India's 26 sedimentary basins, stating that despite progress, much of the potential remains untapped. Puri also mentioned that only 10% of India's sedimentary basins are currently under exploration, but this will increase to 16% by 2024.
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Budget 2024: Renewed focus on solar capacity and renewable energy integration needed
India's solar capacity has grown significantly, reaching 84 GW by May 2024. To achieve its 2030 target of 500 GW non-fossil fuel energy capacity, India must triple its current rate of capacity addition. Budget 2024 should enhance support for innovative renewable energy models, RE manufacturing, and necessary transmission and distribution investments.
Budget 2024 may propel a key element of the Modi govt's Panchamrit goals
The Indian government has been prioritizing sustainability through clean energy for over half a decade to ensure economic growth. The Green Hydrogen economy, an integral part of the development factors, is a key focus in the country's energy sector. The Modi 3.0 budget could introduce new financial incentives, subsidies, and infrastructure investments to bolster this nascent industry.
Green energy may power industries in-house demand: Eversource CEO Dhanpal Jhaveri
India's captive industrial power consumption, currently around 90 gigawatts from fossil fuels, has significant potential for renewable energy replacement, said Dhanpal Jhaveri, chief executive at Eversource, a green energy investment platform. Eversource, a partnership between Everstone and Lightsource BP, sees global climate policies like the EU's carbon footprint taxes driving this shift. Industrial giants like ArcelorMittal, JSPL, JSW, and Vedanta are investing in renewable energy for captive use to align with global climate goals.
Union Budget: These infra measures will give a roadmap for the infrastructure for the next five years
UNION BUDGET 2024: Finance Minister Nirmala Sitharaman 8in the Interim Budget 2024-25 outlined India's focus on infrastructure, with ₹11.1 lakh crore allocated for capital investment, up 11% from the previous year. Despite fiscal challenges, the budget emphasizes project completion, private sector participation via incentives, and sustainable infrastructure development. Key areas include digital infrastructure, tourism, water management, and safety improvements in transportation sectors.
Union Budget: Will Budget 2024 book tourism’s ticket to growth?
Budget Expectations: The 2024 interim Budget saw a 44.7% increase in tourism sector allocation, a promising sign for industry growth. With job opportunities on the rise, stakeholders eagerly await the upcoming Budget announcements. Strategic investments in infrastructure and connectivity are crucial for India's booming domestic travel market. Expectations include simplified GST regulations and tax reforms to drive sustainable tourism practices and economic growth.
Sectors linked to electrical, green energy, and railways may see a disproportionate increase in business: Vinayak Chatterjee
“There is a consensus, officially, that India's aspirational target is 8% GCFI, gross capital formation, and infrastructure, as a percentage of GDP, so that is my starting point. If in this budget year, you are going to try and reach that aspirational target of 8% GCFI, you need to spend Rs 13.5 lakh crore,” says Vinayak Chatterjee
Budget 2024: When will Union Budget be presented? Here are date, time and other details
The Union Budget 2024 will be presented on 23rd July, with the session running from 22nd July to 12th August. Expected highlights include increased tax deductions for salaried individuals, enhanced tax benefits for home loan borrowers, subsidies for women, and a focus on infrastructure, defence, and renewable energy. The government also aims to decriminalise over 100 legal provisions to support businesses.
Budget 2024: Capex, SOPs, bold reforms top infra and energy companies' wish list
Budget 2024: Finance minister Nirmala Sitharaman on Friday met representatives from the infrastructure and energy sector as a part of her pre-budget consultations. "While the capex support for the infrastructure was common, the industry wanted bold reforms to push infrastructure projects, support for energy transition and tax incentives for solar and sector to meet India's goal to attain net-zero by 2070," said a person aware of the details of the meeting. The industry is also seeking a government roadmap for creating better cities.
DVC to invest Rs 20,000 cr in solar energy projects by 2030
The Kolkata-headquartered corporation now has only 14 MW installed solar capacity and is executing a 348 MW project in association with NTPC. A 250MW/hour capacity of battery storage is also under consideration, he said.
Budget 2024 may see Modi government continue its pitch for India's green energy ambitions
BUDGET EXPECTATIONS: Industry experts anticipate the Union Budget 2024 will maintain the Modi government’s focus on renewable energy, emphasizing policy stability and increased investment. Sharad Mahendra of JSW Energy underscores the need for consistent policies to support long-term projects and a significant boost in annual renewable capacity to meet India’s 2030 target of 500 GW.
We expect policy stability, renewable energy investment from Budget 2024: Sharad Mahendra, JSW Energy
With these PPAs signing, the percentage of open capacity once these capacities get commissioned in a span of 18 to 24 months, ultimately the merchant portfolio will be even lower than 15% going forward. So, more of long-term PPAs will be there.
Budget 2024: What are power sector's expectations from FM Nirmala Sitharaman?
Budget 2024: With anticipated economic growth and a focus on energy transition, India’s power sector is a top priority for the government. The nation is targeting 500 GW of renewable energy by FY30 and an additional 85 GW of thermal capacities by FY32. ET examines the challenges faced by the sector and its budgetary wishlist.
Hydrogen sector asks EU to help local firms compete with China
The companies want Brussels to do more to ensure Europe-made equipment powers the EU's plan by 2030 to produce 10 million tonnes of renewable hydrogen using electrolysers, machines that use electricity to split water to produce the green fuel.
World's largest solar plant has five million PV panels. Where is it located and how much electricity will it produce? Know in detail
China's state-controlled firm China Green Electricity Investment of Tianjin has built the world's largest solar plant in Urumqi of its Xinxiang province. It has more than five million PV panels.
Viability gap funding set to boost offshore wind energy space: Crisil
The government's outlay, announced on June 19, includes Rs 6,853 crore for the installation and commissioning of 1 GW of offshore wind energy projects of 500 MW each off the coast of Gujarat and Tamil Nadu. It also has Rs 600 crore for augmentation of two ports to meet the logistics requirements for offshore wind energy projects farms and encourage developers to enter this space.
Cabinet givs nod to VGF scheme for offshore wind energy with Rs 7,453 crore outlay
The Union Cabinet approved a viability gap funding (VGF) scheme for offshore wind energy projects with a total allocation of Rs 7,453 crore. This includes Rs 6,853 crore for installing and commissioning 1 GW of offshore wind projects, split into 500 MW each off Gujarat and Tamil Nadu coasts. Additionally, Rs 600 crore is earmarked for upgrading two ports to support logistics for these projects.
Kolkata Metro to get battery power for moving stranded train
Kolkata's Metro Railway is installing a Battery Energy Storage System in the Dakshineswar-New Garia corridor to move trains during power outages, enhancing safety and energy efficiency.
Italy could play significant role in boosting India's advanced manufacturing capacity: Vincenzo de Luca
Italy's outgoing Ambassador to India highlights the crucial role of collaboration with India in advanced manufacturing to boost India's manufacturing capacity. Bilateral trade between Italy and India has seen significant growth, with a focus on machinery, automotive products, and luxury goods from Italy, and aluminium, steel, and iron from India.
EU carbon tariff: India preps for a fight at WTO
India is considering challenging the European Union's Carbon Border Adjustment Mechanism (CBAM) at the World Trade Organization, which mandates non-EU steel producers to report emissions, impacting sectors like iron and steel, cement, and more.
How is the violent unrest in New Caledonia impacting global nickel prices?
Global nickel prices have surged following violent unrest in New Caledonia, a major nickel producer. Social unrest erupted over French constitutional changes allowing certain residents to vote in elections. New Caledonia holds significant nickel reserves, critical for electric vehicles and other industries. The turmoil has disrupted supplies, contributing to the price spike.
Delhi's pollution worsens: This May is already more polluted than the previous 2 years
Pollution data indicates that the average Air Quality Index (AQI) from May 1-16, 2024, was 233. However, the average AQI during the same period was 182 in 2023 and 215 in 2022.
BJP went back on Sixth Schedule promise, will continue movement till demands are met: Sonam Wangchuk
Climate activist Sonam Wangchuk led a 21-day fast in sub-zero temperatures in March this year, seeking autonomy for Ladakh. The protesters, who were inspired by actor Aamir Khan's character Rancho in Bollywood blockbuster "3 Idiots," argued that the Sixth Schedule of the Constitution should protect the mountains, glaciers, and ecology of Ladakh. Wangchuk said that locals are concerned that without safeguards, their lands will be taken over by corporates and outsiders who may not respect the environment in the ecologically sensitive Himalayan region.
China’s factory glut alarms the world but there’s no quick fix
Complaints about China's factory overcapacity are growing, but Beijing is hesitant to make changes that could harm its fragile economy. The EU criticized China for overproduction, urging action in the short term. China announced plans to slow expansion in the battery industry, but they are not binding. The country insists its industries are competitive due to innovation, not subsidies, and will continue supporting high-tech sectors despite international pressure. China's surplus production, stemming from a real estate slump, poses challenges.
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