Budget Reaction 2024-25: Manish Dabkara, Chairman & MD, EKI Energy Services Ltd

23 Jul 2024 , 02:17 PM

Finance Minister Nirmala Sitharaman’s budget speech outlines a thorough strategy to drive India towards sustainable development and energy security. It is a great example of right things at the right time.

The roadmap for hard-to-abate industries transitioning from energy efficiency to emissions efficiency, with utilisation of carbon market instruments, aligns with our mission to promote carbon/environmental markets derivatives in reducing carbon footprints. We are excited to support Indian industries in this critical shift, leading from the front to nurture a greener and more sustainable industrial landscape.

The promotion of water supply, sewage treatment, and solid waste management projects shows the government’s dedication to sustainable urban development and will encourage more sustainability solutions businesses, especially in tier 2 and 3 cities to come up.

The rooftop solarization scheme, is a landmark initiative that promises significant strides in renewable energy adoption, laying groundwork for India to become a leader in the green energy transition among developing countries. Pumped storage projects promotion will be important in integrating renewable energy into the national grid.

Advanced ultra-supercritical thermal power plants development is noteworthy. A strong nuclear energy endorsement with focus on R&D for small and modular nuclear reactors, is a watershed moment for country’s energy independence.

EKI supports the emphasis on natural farming and climate-resilient agricultural practices is a statement of the government’s holistic approach to sustainable development, in extension to its existing services and operations assisting farmers of India in realising their full climate-friendly economic potential.

We are particularly excited about the focus on extended producer responsibility, in Critical Mineral Mission which will ensure that producers take active roles in recycling and managing the lifecycle of critical minerals, fostering a circular economy and reducing environmental impact.