“In the preceding year’s budget, the government strategically positioned ‘Green Growth’ as a pivotal focus within the comprehensive ‘Saptarishi’ framework, allocating a substantial Rs 35,000 crore for priority capital investment to achieve net zero emissions by 2070. Despite these commendable initiatives, challenges persist in effectively streamlining waste management processes, notably in handling plastic waste. In anticipation of the upcoming budget, industry stakeholders are optimistic about the prospect of a revision in the 18% GST on plastic input material, reverting to the previous rate of 5%.
Furthermore, with climate action occupying a central position in India’s G20 agenda and the notable Green Credit Initiative taking center stage at COP28, the government’s unwavering commitment to sustainable growth and effective waste management is unmistakable. However, there exists a compelling opportunity to amplify support for the recycling of plastic and e-waste management industries, a move that could substantially strengthen and propel these sectors toward heightened sustainability. As the nation looks forward to the forthcoming budget, stakeholders eagerly anticipate targeted measures that will not only reinforce the foundations of the waste management ecosystem but also align with the broader aspirations of a greener and more sustainable India. The nation’s waste crisis necessitates immediate intervention. Governments should consider allocating funds for advanced waste management solutions, such as waste-to-energy plants, enhancing waste management infrastructure, optimizing supply chains, and providing incentives for businesses to adopt sustainable practices”.
