This is an archive article published on July 24, 2024
Union Budget 2024: A confidence booster, but startups want creases ironed out in green energy policies
With green energy being one of the chief concerns in the Union Budget, Finance Minister Nirmala Sitharaman has brought hope to many startups in Pune. “Since the Union Budget 2024 has allocated Rs 19,100 crore to the Ministry of New and Renewable Energy, it looks like there has been an
“The Government of India finalising Rs 19,100 cr to the Ministry of New and Renewable Energy in the Union Budget against Rs 12,850 crore sanctioned in the interim budget in February will definitely infuse confidence in startups who hold patents and disruptive game-changing inventions in the renewable energy sector,” said Ravi Shankar of the startup Airsolar One, which was incubated with FITT-IIT Delhi.
“We hope to renew talks on our patented invention MAV-Vimana, a cryogenic-enabled solar-powered manned aerial vehicle, which was validated by the Ministry of Civil Aviation, India, as it would enable the common man to fly. Most importantly, it will connect airports of Tier B and C cities with Tier A-city airports and benefit passengers and cargo movement,” he added.
With green energy being one of the chief concerns in the Union Budget, Finance Minister Ni
rmala Sitharaman has brought hope to many startups in Pune. “Since the Union Budget 2024 has allocated Rs 19,100 crore to the Ministry of New and Renewable Energy, it looks like there has been an increase in budget allocation towards MNRE. We’d look to see how this is used in the small hydro sector and the deep tech technologies we are building. R&D allocation has been small in this ministry and, therefore, we would like to see these coming through in the start up ecosystem,” says Swati Maini, Founder, Maini Renewables, which offers a scalable small hydro solution that harnesses the power found in the natural flow of water without the need for a dam.
For Nuriel Pezarkar, Founder and CEO of Noble Exchange, which was incubated at Venture Center, Pune, and specialises in processing of organic food waste with cutting edge anaerobic digestion technology, the Finance Minister (Sitharaman) did many things right. “She has laid out a broad, multi sectoral, reform oriented outlook that should create a favourable impact on industries like housing, infrastructure, defence, agriculture amongst others. Mechanism to spur private-driven research at commercial scale and abolition of Angel Tax for investments in Startups will propel innovation. Focus on skill development and other opportunities can create a mid – long term impact in improving employability of Indian youth,” he said.
However; the Budget left certain things unattended, according to Pezarkar. “The Budget did not highlight commitment towards an actionable agenda to serve India’s vision towards Net Zero. Apart from focus on solar energy; other modern Biofuels like CBG – as well as focus on propelling top 100 Indian cities towards sustainability; scientific processing of waste; decarbonizing city transport; climate finance and related incentives – did not find mention. Hopefully the policy document on energy transition that was highlighted should include an actionable and time bound agenda including resource allocation,” he says.
Sachin Dhande, who is the founder of the social innovation startup Infinite Research and Development Organisation Private Ltd (IRDO), which manufactures and supplies innovative solar lamps with the mission to “reach each dark place with a solar lantern”, says that the basic needs of the poorest of the poor is, frequently, lost. “Even solar farming is catering to the needs of the industries and Metros. Fortunately, the government has taken very good action for small homes. Independent houses are getting energised with small solar systems and this is a good solution,” says Dhande.
Nilesh Bajaj, Chief Executive Officer of Vayve Mobility, which has developed Eva, India’s first solar electric car, believes that the government has been making positive strides over the years. However, he suggests that some issues still need to be addressed, particularly the use of hydrogen for smaller vehicles. “Hydrogen has potential in larger, industrial applications, but it may not be the most practical choice for smaller vehicles,” he says. “On a side note, abolishing the angel tax would give a big boost to the startup ecosystem.”
Dipanita Nath is a Senior Assistant Editor at The Indian Express, based in Pune. She is a versatile journalist with a deep interest in the intersection of culture, sustainability, and urban life.
Professional Background
Experience: Before joining The Indian Express, she worked with other major news organizations including Hindustan Times, The Times of India, and Mint.
Core Specializations: She is widely recognized for her coverage of the climate crisis, theatre and performing arts, heritage conservation, and the startup ecosystem (often through her "Pune Inc" series).
Storytelling Focus: Her work often unearths "hidden stories" of Pune—focusing on historical institutes, local traditions, and the personal journeys of social innovators.
Recent Notable Articles (December 2025)
Her recent reporting highlights Pune’s cultural pulse and the environmental challenges facing the city during the winter season:
1. Climate & Environment
"Pune shivers on coldest morning of the season; minimum temperature plunges to 6.9°C" (Dec 20, 2025): Reporting on the record-breaking cold wave in Pune and the IMD's forecast for the week.
"How a heritage tree-mapping event at Ganeshkhind Garden highlights rising interest in Pune’s green legacy" (Dec 20, 2025): Covering a citizen-led initiative where Gen Z and millennials gathered to document and protect ancient trees at a Biodiversity Heritage Site.
"Right to breathe: Landmark NGT order directs PMC to frame norms for pollution from construction sites" (Dec 8, 2025): Reporting on a significant legal victory for residents fighting dust and air pollution in urban neighborhoods like Baner.
2. "Hidden Stories" & Heritage
"Inside Pune library that’s nourished minds of entrepreneurs for 17 years" (Dec 21, 2025): A feature on the Venture Center Library, detailing how a collection of 3,500 specialized books helps tech startups navigate the product life cycle.
"Before he died, Ram Sutar gave Pune a lasting gift" (Dec 18, 2025): A tribute to the legendary sculptor Ram Sutar (creator of the Statue of Unity), focusing on his local works like the Chhatrapati Shivaji statue at Pune airport.
"The Pune institute where MA Jinnah was once chief guest" (Dec 6, 2025): An archival exploration of the College of Agriculture, established in 1907, and its historical role in India's freedom struggle.
3. Arts, Theatre & "Pune Inc"
"Satyajit Ray, Ritwik Ghatak were not rivals but close friends, says veteran filmmaker" (Dec 17, 2025): A deep-dive interview ahead of the Pune International Film Festival (PIFF) exploring the camaraderie between legends of Indian cinema.
"Meet the Pune entrepreneur helping women build and scale businesses" (Dec 16, 2025): Part of her "Pune Inc" series, profiling Nikita Vora’s efforts to empower female-led startups.
"How women drone pilots in rural Maharashtra are cultivating a green habit" (Dec 12, 2025): Exploring how technology is being used by women in agriculture to reduce chemical use and labor.
Signature Style
Dipanita Nath is known for intellectual curiosity and a narrative-driven approach. Whether she is writing about a 110-year-old eatery or the intricacies of the climate crisis, she focuses on the human element and the historical context. Her columns are often a blend of reportage and cultural commentary, making them a staple for readers interested in the "soul" of Pune.
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