Post budget reaction on Union Budget 2023 by Mr Sameer Gupta, Chairman & MD, Jakson Group and Mr Bikesh Ogra, MD & CEO, Jakson Green – EQ Mag

Mr Sameer Gupta, Chairman & MD, Jakson Group – The nucleus of Budget 2023 is enhancing the quality of life, inclusive growth and sustainability. I am sure this vision will narrate the story of ‘’New India, Progressive India”. The green economy is in the centre, and all aspects of the energy transition and security are thoroughly covered. As a result, India should surpass its current standing in the field of renewable energy, including storage and green hydrogen.

The government has taken steps to decarbonize the Indian economy, aided by specific budgets- viability funding for a 4000 MWh battery storage energy system, pumped hydro, Rs 20,700 investment for RE evacuation from Ladakh, and the inclusion of green credit in the Environment Protection Act.

Mr Bikesh Ogra, MD & CEO, Jakson Green – The Union Budget 2023 with an outlay of Rs 35,000 crore for green energy transition, addition to the recently announced Green Hydrogen mission with outlay of Rs.19,500 crore has reiterated GOI’s commitment to achieve net zero targets alongside making India important hub for renewable manufacturing. Encouraging the Net Zero goal the government has firmly put clean energy transition at the centre of India’s economic growth. A firm step towards green missions of government will give impetus to job creation, research n development as well as export opportunities while contributing to net-zero objectives. These initiatives are likely to boost domestic manufacturing and reduce import dependence for the renewable sector. The Union Budget 2023 clearly indicates, India is ready to establish itself in the leadership position on the global green energy transition.