Union Budget 2025: Initiatives That Can Make India Self-Reliant In Energy

To rationalize the use of petroleum products, they should be put under GST

- Kirit Parikh

The budget often deals with short-term problems, and there are several of those relating to energy that we need to attend to urgently. The biggest is our concern for energy security to make India as much as possible aatmanirbhar to reduce our dependence on imported fossil fuels, much of which we import—85% of oil, 50% of gas and almost 20% of coal. Over the long run, India has to depend on renewables such as solar and wind. Another important issue is severe air pollution in India's cities due to coal-based power plants and vehicular pollution. However, the short-term policies have to keep in mind the long-term vision. India has promised decarbonization leading to net zero by 2070. This is important for the world but also for India, as the country is highly vulnerable to climate change. It is, therefore, in our interest to see that the world attains net zero as soon as possible.

Energy security requires that we promote renewables to replace coal in power generation and also promote electric vehicles as much as possible and cut down the use of fossil fuels.