India's Economic Survey Emphasizes Renewable Energy Investments

The Economic Survey 2023-24 outlines India's ambitious target of achieving 500 GW of renewable energy by 2030, necessitating an estimated investment of ₹30.5 lakh crore. It emphasizes the need to mobilize competitive finance, enhance banking capabilities, and streamline land acquisition processes facilitated by state governments. Between 2014 and 2023, the clean energy sector attracted ₹8.5 lakh crore in new investments, with FDI reaching $17.88 billion. The PM Surya Ghar scheme aims to install solar rooftops on one crore households, backed by a ₹75,000 crore allocation and significant consumer demand. The initiative has already seen over 2.5 lakh installations and is expected to complete its target ahead of schedule. Overall, these efforts are set to create substantial economic opportunities and job growth within India's renewable energy sector.