In FY 2023-2024, renewable energy accounted for a significant portion of India’s newly added power generation capacity, with solar energy dominating the renewable energy addition. The share of coal and lignite in India’s total installed capacity fell below 50% for the first time. The report also highlights the rise in peak power demand and the increase in foreign investment in non-conventional energy.
The Indian government plans to borrow ₹6.55 lakh crore in the second half of the financial year, remaining on track with its budget estimate. The borrowing will include a new 50-year security for the first time, and ₹20,000 crore will be raised through sovereign green bonds. Analysts believe this adherence to borrowing plans demonstrates fiscal prudence and should calm market nerves.
