Budget wishlist: Funds for basic and applied research, capital for energy storage

The wait for the NDA 2.0's first Union Budget has the corporate world buzzing with expectations. From allocation of funds towards research to support for renewable energy deployment, there's a lot riding on Finance Minister Nirmala Sitharaman's maiden Budget speech.

The Country Director at Tata Centre for Development at University of Chicago, Dr. Leni Chaudhuri is hoping for provisions for funding both basic and applied research in the Budget.

"Independent research contributes towards evidence based planning, growth of the economy, and discovery of innovative solutions to critical developmental issues,” Chaudhuri said.


Meanwhile at the Council on Energy, Environment and Water (CEEW) Centre for Energy Finance in New Delhi, Kanika Chawla feels that India's energy transition is well on its way, with rapid strides being made in greening the energy mix and addressing long lingering concerns around access to electricity and clean cooking fuels.

And while the last five years have seen India display leadership on renewable energy deployment, the director at the think-tank believes that the upcoming Budget will determine the scale and scope of the policy support this sector can expect in the coming years.

Talking about her expectations from the FM, she said, "Policy and budgetary support for nascent and under-served sections of the clean energy market, such as energy storage, rooftop solar, and distributed renewable energy, will be critical in determining the pace of our energy transition.

"A clear market signal for the electric mobility transition, both in terms of timelines and fiscal support, continues to be the big expectation from the upcoming budget."