On 1st Feb of 2022 Union Budget 2022-23 is presented by Finance Minister of India, Mrs. Nirmala Sitharaman. On the very first day of the session, it is disclosed that India’s economic growth was estimated at 9.2% to be the highest among all large economies.
Performance-linked Incentives (PLI) are emphasized to part a crucial role in the booster of this budget. The government is focused on the development of eco-system of Solar modules to battery manufacturing.
The budget provides the impetus for growth along with four priorities:
- PM GatiShakti
- Inclusive Development
- Productivity Enhancement & Investment, Sunrise opportunities, Energy Transition, and Climate Action.
- Financing of investments
The government has increased the allocated PLI scheme for manufacturing high-efficiency solar modules to Rs. 19,500 crores. This is introduced to meet the goal of 280GW of installed solar power by 2030.