The Indian government is powering up the solar energy sector! The Union Budget 2025-26 allocates ₹26,549.38 crore to the Ministry of New & Renewable Energy (MNRE)—a massive 53.48% jump from last year’s revised ₹17,298.44 crore.
Moreover, the PM Surya Ghar Muft Bijli Yojana has received a significant boost, with ₹20,000 crore allocated in Budget 2025-26—nearly double last year’s revised ₹11,100 crore. The government remains confident of achieving its 10 million household target by 2026-27, expecting installation speeds to pick up as bottlenecks are resolved.
The PM-KUSUM Scheme, which aims to ensure energy security for farmers, has been allocated ₹2,600 crore for 2025-26, a 3% increase from last year’s ₹2,525 crore.
The basic customs duty (BCD) on solar cell imports has been reduced from 25% to 20%, but an agriculture infrastructure and development cess (AIDC) of 7.5% has been levied on these against collection of social welfare surcharge at 2.5% in the previous duty regime. Similarly, solar module imports now attract a reduced customs duty of 20% against 40% earlier, but an additional AIDC of 20% has been levied against 4% SWS in the previous duty regime.
The Finance Minister has announced a National Manufacturing Mission to strengthen Make in India, providing policy support, execution roadmaps, and a governance framework for industries of all sizes. The mission will also boost clean tech manufacturing, enhancing domestic value addition and strengthening the ecosystem for solar PV cells, EV batteries, motors & controllers, electrolyzers, wind turbines, high-voltage transmission equipment, and grid-scale batteries.
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