The Economic Survey 2023-24, tabled by the Union Minister for Finance and Corporate Affairs Smt. Nirmala Sitharaman in Parliament on 22 July 2024.
Under United Nations Framework Convention on Climate Change India has committed to achieve about 50 per cent cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030.
The Ministry of New and Renewable Energy is working towards achieving 500 Giga Watt (GW) of installed electricity capacity from non-fossil sources by 2030.
The Economic Survey states that, as of 31 March 2024, a total of 190.57 GW of renewable energy (RE) capacity has been installed in the country.
The share of RE in the total installed generation capacity in the country stands at 43.12 per cent, it notes.
The Survey mentions that the non-fossil fuel (hydro, nuclear, solar, wind, biomass, small hydro, pump storage pumps) based capacity which is around 203.4 GW (46 per cent of the total) out of 441.9 GW of total installed capacity in 2023-24 is likely to increase to 349 GW (57.3 per cent) in 2026-27, and 500.6 GW (64.4 per cent) in 2029-30.
