Budget expectation quote from Sandeep Patel, CEO, NEPRA

BILKULONLINE

Ahmedabad, July 23

Quote 1: The waste management and recycling sector is critical for India’s sustainable growth trajectory. We anticipate the Union Budget 2024 will accord it the requisite priority by classifying it as a priority sector, allowing CSR investments in waste management PPPs infrastructure creation, and enhancing credit accessibility through robust debt guarantees. To stimulate and incentivise private investment, the introduction of outcome-linked tax incentives, including the promotion of EPR and sustainability bonds, is crucial. Further, establishing a dedicated platform on the Social Stock Exchange for waste management and recycling initiatives can unlock significant capital. These measures, coupled with a dedicated Viability Gap Funding, will catalyze the sector’s growth, create a circular economy, and address India’s pressing waste management challenges

Quote 2: To foster a circular economy and address India’s waste management challenges, the Union Budget must prioritize the waste management and recycling sector. Given its capital-intensive nature and substantial labour requirements, akin to the textile industry, the sector necessitates significant policy support. Implementing incentives such as dedicated skill development programs, financial support for formalization through PF/ESI reimbursements, and replicating successful textile industry policies can catalyze growth, create employment opportunities, and drive India’s transition towards a sustainable future.