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Need tax revenue to fund innovation in India’s push for green power: FM Sitharaman

Money Control · 8m

India's transition to renewable energy is being driven by its own funds and innovation, according to Finance Minister Nirmala Sitharaman. She emphasized the importance of tax revenue in funding research and development for renewable energy, as well as the need for innovative solutions such as developing battery capacities for energy storage. Sitharaman acknowledged the challenges ahead, including the reliance on fossil fuels until India can lead in battery storage. The government has already taken measures to support research and development, including allocating funds for developing artificial intelligence capabilities and establishing semiconductor chip units.