J P Chawla & Co. LLP

Fineprint Vol.4 2023

India is making significant strides in sustainable energy, aiming to accelerate rooftop solar capacity deployment. With over 25 crore households capable of installing 637 GW of solar energy, the Council on Energy, Environment, and Water (CEEW) reports a surge in rooftop solar projects, bolstered by revised subsidies. The Ministry of New and Renewable Energy has increased financial assistance for solar projects, with subsidies raised to Rs 18,000 per kW for capacities up to 3 kW. These measures align with the government’s target of achieving 40 GW of rooftop solar by 2022. Additionally, India unveils a ₹45,000 crore investment plan to boost river cruise tourism and inland waterways growth, aiming to revolutionize infrastructure and expand tourism opportunities by 2047. Despite global economic uncertainties, India anticipates a robust GDP growth of 7.3% in FY 2023-24, showcasing resilience and defying recessionary trends.
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