RENEWCONNECT - All about renewables & power sector

Here’s a comprehensive timeline and current status of the Fiscal Responsibility and Budget Management (FRBM) Act and its guidelines , from inception to the latest updates: 1. Origin and Purpose Proposed: 2000 by Finance Minister Yashwant Sinha. Enacted: 2003; implemented from July 2004 . Objective: Ensure fiscal discipline and macro-economic stability . Reduce fiscal deficit , revenue deficit , and public debt . Enhance transparency in fiscal operations. Initial Targets: Eliminate revenue deficit by 2008–09. Reduce fiscal deficit to 3% of GDP by 2008–09. 2. Key Features of FRBM Act Mandates presentation of: Medium-Term Fiscal Policy Statement Macroeconomic Framework Statement Fiscal Policy Strategy Statement with Union Budget. Prohibits borrowing from RBI except under exceptional circumstances. Introduced escape clause for ...

[🇮🇳]  India: A Policy-Driven Push for BESS India has developed a comprehensive framework to promote BESS adoption, especially for grid-scale applications: Key National Policies and Guidelines National Framework for Promoting Energy Storage Systems (2023): Defines BESS as a critical grid asset and outlines its role in generation, transmission, and distribution. Viability Gap Funding (VGF) Scheme: ₹5,400 crore allocated to support 4,000 MWh of BESS capacity under Phase 1. Production Linked Incentive (PLI) Scheme: ₹18,100 crore for Advanced Chemistry Cell (ACC) battery manufacturing. Energy Storage Obligation (ESO): Mandates DISCOMs to procure a portion of power from storage sources under Renewable Purchase Obligations (RPO). Waiver of Inter-State Transmission Charges: For BESS projects co-located with renewable energy. Battery Waste Management Rules (2022): Ensures safe disposal and recycling of batt...