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‘Budget provides a strong steer to infrastructure,’ says Bain & Company partner

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“The Budget has sustained focus on the Energy Transition initiatives. Given that it’s an Interim Budget before the elections, the Budget, while not going aggressive on announcements, has ensured continued steer with right nudges. Notable announcements are with respect to rooftop solarization and mandatory blending of CBG in PNG and CNG, which can significantly boost the market size for these businesses in the immediate future and help build momentum. Another interesting scheme to watch out for will be related to bio-manufacturing and bio-foundry – there is substantial potential for bio-plastics, bio-polymers in India, and it will help us move ahead in this nascent but rapidly developing global industry. Viability gap funding for Offshore wind is a step with the right intent; however, the industry will need more to harness the full potential of the segment. Similarly, the budget makes several other right mentions like a push for E-buses, setting up of coal gasification and liquefaction capacity, and doubling of spend on the National Green Hydrogen Mission. All positive signs, however, we expect more to be there in the main July budget and are looking forward to it,” he said on the government’s allotments to energy resources.

Published 01 February 2024, 17:06 IST

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