Union Budget 2025 | Supporting MSMEs with tax breaks will reduce costs in solar sector, says Luminous Power Technologies CEO

Expanding initiatives like the Pradhan Mantri Suryoday Yojana will further drive solar adoption and create new employment opportunities, says Ms Preeti Bajaj, MD & CEO, Luminous Power Technologies.

“The Union Budget 2025 presents a pivotal opportunity to accelerate India's transition to solar energy. As the demand for clean energy rises, we expect the government to introduce enhanced financing schemes, such as subsidies, low-interest loans, and tax incentives, to make solar installations more affordable for households and businesses," says Ms Preeti Bajaj, MD & CEO, Luminous Power Technologies.

"Expanding initiatives like the Pradhan Mantri Suryoday Yojana will further drive solar adoption and create new employment opportunities. Additionally, supporting MSMEs with tax breaks, grants, and funding for R&D will foster innovation and reduce costs in the solar sector. Finally, investing in skill development programs for women and youth will help bridge the gender gap and create a skilled workforce to meet the demands of India’s growing solar market. Together, these measures can propel India toward a sustainable, solar-powered future, driving both economic growth and environmental stewardship," she added.