One of the key mitigation measures is development of adequate energy storage capacity in India.

This dramatic growth in renewable energy capacity reinforces the fact that India is witnessing an unprecedented energy transition to low-carbon development,

Budget 2021-22 is a mixed bag in terms of support for India’s transition to a sustainable, low carbon economy.

Combined, they accounted for or 22,451 megawatts (MW) or more than three-quarters (78.09%) of the 28,751 MW of new utility-scale capacity reported to have been added last year. Wind (13,626 MW) and solar (8,543 MW) each contributed more new generating capacity than did natural gas (6,259 MW).

An expanding economy, population, urbanisation and industrialisation mean that India sees the largest increase in energy demand of any country, across all of our scenarios to 2040.

India's petroleum and steel minister Dharmendra Pradhan said stable energy markets will be crucial for both economic and demand recovery, and cooperation among consumers and producers is crucial to make that happen.

"India's peak oil demand will be much later than what many analysts predict. So we will be seeing handsome demand numbers going into 2030s and 2040s, if not 2050s,"

The benchmark S&P BSE Sensex was up 2.17% at 49,656.93 by 0457 GMT after rising as much as 3.2% to 50,154.48. The NSE Nifty 50 index climbed 2.1% to 14,581.10.

The blue-chip NSE Nifty 50 and S&P BSE Sensex indexes rose more than 3.5% to 3.7% after the budget.

India’s government forecast a robust economic recovery of 11% for fiscal 2021-22 in its annual economic statement

India and the IEA enter new phase of closer collaboration with signing of Strategic Partnership Framework

Coal-based power generation accounted for nearly 79 per cent of the country’s total generation on January 22, the day when all-India peak power demand surged to a record high of 187.3 GW.

The two wind power plants, which will be powered by 200 turbines, have a total investment value of US$1.3bn.

Coal currently plays a critically important role in balancing the electricity grid while India drives an ever-larger infrastructure investment into ever-cheaper domestic, sustainable, zero emissions renewable energy.

Coal-fired capacity, which was multiplied by 4.5 over 2017-2019 (from 250 MW to over 1.1 GW), accounts for 6% of Bangladesh’s installed capacity (2019).