The EV push also, I believe, need a thrust in fact, because the data states that just 6 to 7% of the total registration of the vehicle in the country is electric vehicle, which is not the desired case. We have been struggling to reduce the fossil fuel, we understand that is not easy, still the kind of transition from fossil fuel to electric is not happening and not even in sight what we have planned for 2035. When it comes to renewable power, the government has taken a new target of 1800 gigawatt by 2047.
Target needs to be achieved is one part, but whether it could be achieved the way we are moving ahead would be a possibility, is again a challenge. We have been lacking in our meeting our target of renewable energy for last 2 years, 23-24, 24-25. So, we need to pull back those deficits also and we would have to add more capacities and we should, we would have to complete the overall targeted capacities.
If I talk about solar, we have around 50 gigawatt of installed capacity for 1800 gigawatt by 2047 would not suffice. The overall expectation or I would say the expected investment in the electrical energy infra, be it generation, be it transmission, be it distribution is somewhat around 30 lakh crore and this 30 lakh crore is critical for achieving these targets. I believe this 30 lakh crore, at least one-third should come from the PSU banks because if they drive it, they lead, then there is a possibility that other global financial institutions or the industry people would be willing to put more money so as to achieve this target.
And in this, the transmission system alone would be needing more than 10 lakh crore. So, the power sector, which is the backbone for our growth, as India is also trying to become the alternate production hub, not only for the traditional producers, traditional industry produce, but the advance, whether it is semiconductor, whether it is solar, whether it is or heavy equipments, which we are actually lagging a lot, most of the heavy equipment is being imported by us from China, without which we cannot even think of progressing in the overall industrial scenario. This stock is in line with our tradition that as at Eninrac, we have been doing it for last so many years, we do talk about pre-budget scenarios and we also do the post-budget discussions for our audiences.
The Eninrac, as you people are aware, is a marketing research and advisory and consulting company based at Delhi. We have been doing fantastic job for last 5-6 years, including doing so many international assignments, be it ASEAN, be it Europe, be it US or South Africa, African countries for that matter, apart from the consulting assignments in India. I am Sanjay Kumar Mittal, the Senior Director with Eninrac, would come back again when the budget is done, we will be discussing with our team and we will be sharing our thoughts on post-budget analysis.
Thank you very much for watching this video.
India Budget 2025 Pre Budget Analysis - Energy & Infrastructure Sector - Eninrac Point of View ( POV )
