Finance Minister Nirmala Sitharaman s interim budget proposed a rooftop solar scheme called Pradhan Mantri Suryodaya Yojana, providing 300 units of free electricity per month to 10 million households. This scheme aims to save households Rs 15,000-18,000 annually and promote solar power generation. It also creates entrepreneurship and employment opportunities. The grid-connected rooftop solar system will reduce burden on electricity distribution companies, lower fossil fuel usage, and contribute to India s renewable energy goals of 500 GW by 2030 and 50% non-fossil fuel power generation capacity.
The impact of Interim Budget on equity markets will be neutral to mildly positive for the near term and other emerging triggers will drive its trajectory later, said Dhiraj Relli, MD & CEO, HDFC Securities.
Finance Minister Nirmala Sitharaman presents the interim Budget 2024-25 in a paperless format, using a digital tablet instead of a traditional briefcase. This continues her tradition of using a tablet wrapped in a bahi-khata style pouch to carry the Budget documents. She poses for a picture with her team outside her office before heading to meet the President. Sitharaman s Budget for FY2024-25 is the Modi government s 12th straight Budget since 2014.
Further, a new scheme will be set up for deeptech innovation in defence sector, Finance Minister Nirmala Sitharaman said while presenting the interim budget.