GST cut to save up to Rs 1.5 lakh cr for investors in renewable energy: Pralhad Joshi
GST
Dated:- 22-9-2025
PTI
New Delhi, Sep 22 (PTI) GST reduction on renewable energy will save up to Rs 1.5 lakh crore for investors till 2030, Union Minister Pralhad Joshi said on Monday.
The comments from the Union New & Renewable Energy Minister assume significance as Monday is the first day of implementation of the Goods and Services Tax reduction.
In a bonanza to consumers, the GST Council, comprising the Centre and states, decided to reduce tax rates on goods and services, from September 22 the first day of Navratri.
The GST cut will give a significant boost to India's ambitious target of having 500 GW of renewable energy by 2030.
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Rs 1,750 crore on 10 lakh solar pumps with the GST cut, the ministry estimates show.
Earlier, addressing the conference, Joshi said at the COP26 in 2021, when Prime Minister Narendra Modi first laid down the roadmap for the country's clean energy journey, he set a target that many thought was impossible: 500 GW of non-fossil fuel capacity by 2030.
“Today, I am proud to say that we have already achieved over 50 per cent of our installed power capacity from non-fossil fuel sources, and we have done it five years ahead of the timeline. We have also crossed 50 per cent of the 500 GW target (252 GW),” he said.
He informed that nearly 20 lakh homes have benefited from solar power under the PM Surya Ghar: Muft Bijli Yojana.
He further sai
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er a statement issued by CII, the Ministry of New and Renewable Energy (MNRE) will soon be holding the second round of talks with states on energy storage, energy transition and power purchase agreements (PPAs).
Muaviyath Mohamed, Minister of State, Environment and Tourism, Government of Maldives, said his country is enhancing climate resilience by focusing on renewable energy particularly solar power and had fruitful talks with the Indian Solar Alliance (ISA).
The Maldives looks forward to (working with) Indian companies to achieve its target of 33 per cent of electricity generation through renewable energy by 2028, he added.
Meanwhile, Praveer Sinha, Chairman, CII National Committee on Power and MD, Tata Power, said a huge amount of
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