Union Budget 2025 | Expect strong policy support, tax incentives that encourage innovation in clean energy, says Recyclekaro founder Rajesh Gupta

Finance Minister Nirmala Sitharaman will present the 8th consecutive Union Budget on February 1, 2025. Reports suggest that the government is mulling over cutting income tax for those who are earning up to Rs 15 lakh a year in February's budget, in turn providing relief to the middle class.

The clean energy sector has pinned high hopes on the Union Budget FY 2025-26 documents and is keeping its fingers crossed regarding their expectations from the government's most important financial document of the year.

"As India moves towards a more sustainable future, the Union Budget 2025 is a key moment to boost the country's renewable energy and electric mobility sectors.

We hope to see strong policy support and tax incentives that encourage innovation in clean energy solutions like solar, wind, and energy storage, while also prioritizing the growth of domestic manufacturing for green technologies.

Simplifying regulations, alongside increased funding for renewable energy R&D and grid integration, can help India maintain its position as a global leader in sustainable energy. 

Additionally, as the EV market rapidly grows, the budget must address critical needs in the EV battery and recycling sectors.

Policies that promote the development of advanced battery manufacturing, establish robust recycling networks, and support circular economy initiatives are crucial for a self-sufficient and sustainable electric vehicle ecosystem.

Strengthening research and encouraging collaboration between public and private sectors in the battery supply chain will not only reduce our reliance on imports but also pave the way for India to become a global leader in clean innovation," said Rajesh Gupta, Founder & Director, Recyclekaro.

Union Budget 2025 | Nirmala Sitharaman, who continues to be Finance Minister, will present her record 8th Union Budget this time. While inflation has burnt a hole in the pockets of 'aam janata', reports suggest there might be a tax relief for those making up to Rs 15 lakh per year. Track the latest coverage, live news, in-depth opinions, and analysis only on Deccan Herald. Also follow us on WhatsApp, LinkedIn, X, Facebook, YouTube, and Instagram.