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Daily News Wrap-Up: Budget 2025 Halves Solar Module Duty to 20%

India’s installed wind capacity in Q4 2024 rises to 45% YoY

February 3, 2025

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Finance Minister Nirmala Sitharaman reaffirmed the government’s commitment to strengthening domestic value addition and enhancing India’s manufacturing ecosystem for solar cells and modules, electric vehicles, lithium-ion batteries, and high-voltage transmission equipment. The Budget saw revisions in estimates for various energy programs. The allocation for the total solar sector has increased from ₹150.61 billion (~$1.73 billion) to ₹242.24 billion (~$2.79 billion). The National Green Hydrogen Mission’s funding was raised from ₹3 billion (~$34.6 million) to ₹6 billion (~$69.24 million).

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